Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Actual receipt of goods is an independent condition for input tax credit, requiring the claimant to establish eligibility through credible evidence. Supplier registration, tax invoices, portal reflection and banking payments do not conclusively prove receipt, while a supplier's later non-availability at its declared premises does not alone disprove an earlier supply. Input tax credit claims require cumulative evaluation of invoices, e-way bills, transport records and other corroborative material. Adequate adjudication requires verification of that evidence, reasoned findings, and an effective opportunity of hearing; failure to undertake this assessment warrants fresh adjudication without determining the claim on merits.
Actual receipt of goods is an independent condition for input tax credit, requiring the claimant to establish eligibility through credible evidence. Supplier registration, tax invoices, portal reflection and banking payments do not conclusively prove receipt, while a supplier's later non-availability at its declared premises does not alone disprove an earlier supply. Input tax credit claims require cumulative evaluation of invoices, e-way bills, transport records and other corroborative material. Adequate adjudication requires verification of that evidence, reasoned findings, and an effective opportunity of hearing; failure to undertake this assessment warrants fresh adjudication without determining the claim on merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
