Tax authority's substitution of projected figures with actuals overturned; original acquisition valuation upheld; transfer pricing issues remitted for...
Beneficial owner held liable for differential customs duty; royalties added under Rule 10(1)(c); confiscation, penalties under s.111(m), s.114A, s.112...
HC examined proceedings under S.74 GST Act against the purchasing dealer for alleged inadmissible ITC on fictitious invoices without movement of goods. It found the supplier had filed GSTR-1 and GSTR-3B and that GSTR-2A was auto-populated, with no dispute by authorities regarding these statutory records. HC held there was no material indicating fraud or wilful misstatement by the petitioner and that tax collected had reached the revenue. Relying on binding precedent that ITC cannot be denied where the selling dealer was registered and tax deposited, HC quashed the impugned orders and allowed the petition.
HC examined proceedings under S.74 GST Act against the purchasing dealer for alleged inadmissible ITC on fictitious invoices without movement of goods. It found the supplier had filed GSTR-1 and GSTR-3B and that GSTR-2A was auto-populated, with no dispute by authorities regarding these statutory records. HC held there was no material indicating fraud or wilful misstatement by the petitioner and that tax collected had reached the revenue. Relying on binding precedent that ITC cannot be denied where the selling dealer was registered and tax deposited, HC quashed the impugned orders and allowed the petition.
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