https://www.taxtmi.com/caselaws?id=255181 The High Court upheld the decision of the Tribunal and Assessing Officer to deny input tax credit due to the lack of evidence of genuine transactions and physical movement of goods. The Court emphasized the appellant's failure to prove the authenticity of purchases, resulting in the confirmation of the disallowance of tax credit. Additionally, the Court supported the Tribunal's decision to remand the penalty issue for reconsideration by the Assessing Officer, highlighting the necessity for proper discretion in imposing penalties. en-us Fri, 27 Jun 2014 00:00:00 +0530 Thu, 23 Jul 2015 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255181 The High Court upheld the decision of the Tribunal and Assessing Officer to deny input tax credit due to the lack of evidence of genuine transactions and physical movement of goods. The Court emphasized the appellant's failure to prove the authenticity of purchases, resulting in the confirmation of the disallowance of tax credit. Additionally, the Court supported the Tribunal's decision to remand the penalty issue for reconsideration by the Assessing Officer, highlighting the necessity for proper discretion in imposing penalties. Case-Laws VAT and Sales Tax Fri, 27 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255181