Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Denial of input tax credit (ITC) was considered where no finding of collusion, fraud, or mala fide conduct existed; the authority invoked non fraud procedure, indicating the transaction was bona fide, so depriving the purchaser of ITC would be arbitrary under Article 14. The court distinguished assessment under non fraud and fraud processes and applied the ratio in Sahil Enterprises to hold the purchaser not liable for the seller's failure to remit collected tax. The impugned order was set aside and ITC of Rs. 22,09,964/- was directed to be allowed forthwith.
Denial of input tax credit (ITC) was considered where no finding of collusion, fraud, or mala fide conduct existed; the authority invoked non fraud procedure, indicating the transaction was bona fide, so depriving the purchaser of ITC would be arbitrary under Article 14. The court distinguished assessment under non fraud and fraud processes and applied the ratio in Sahil Enterprises to hold the purchaser not liable for the seller's failure to remit collected tax. The impugned order was set aside and ITC of Rs. 22,09,964/- was directed to be allowed forthwith.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
