Faceless reassessment jurisdiction turned on retrospective AO definition, with later faceless-assessment changes treated as clarificatory and procedur...
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HC allowed the writ petition filed by the assessee, holding that the disallowance of Input Tax Credit (ITC) under s.17(5) CGST Act on insurance premium was without jurisdiction and based on an erroneous factual premise. The revenue had treated the insurance policy as motor vehicle insurance, whereas the record clearly showed it was for stock, premises, STFI cover, earthquake risk, and manufacturing equipment, which are not covered by the ITC restriction under s.17(5). As all other proposed additions had been dropped and only this ITC disallowance remained, the HC held that the impugned assessment order and notice were vitiated by incorrect assumptions of fact. The impugned order and notice were quashed and set aside.
HC allowed the writ petition filed by the assessee, holding that the disallowance of Input Tax Credit (ITC) under s.17(5) CGST Act on insurance premium was without jurisdiction and based on an erroneous factual premise. The revenue had treated the insurance policy as motor vehicle insurance, whereas the record clearly showed it was for stock, premises, STFI cover, earthquake risk, and manufacturing equipment, which are not covered by the ITC restriction under s.17(5). As all other proposed additions had been dropped and only this ITC disallowance remained, the HC held that the impugned assessment order and notice were vitiated by incorrect assumptions of fact. The impugned order and notice were quashed and set aside.
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