https://www.taxtmi.com/caselaws?id=257198 Interest and penalty were not sustainable where the assessee had sufficient input tax credit to adjust the reassessed tax demand and no intention to evade or avoid tax was established. The Tribunal's factual finding that the additional liability stood covered by available credit justified deletion of interest, and the penalty provision could not be invoked without proof of evasion or avoidance. The High Court found no substantial question of law against that deletion and upheld the relief granted to the assessee, causing the Revenue's challenge to fail. en-us Mon, 19 Jan 2015 00:00:00 +0530 Wed, 21 Oct 2015 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257198 Interest and penalty were not sustainable where the assessee had sufficient input tax credit to adjust the reassessed tax demand and no intention to evade or avoid tax was established. The Tribunal's factual finding that the additional liability stood covered by available credit justified deletion of interest, and the penalty provision could not be invoked without proof of evasion or avoidance. The High Court found no substantial question of law against that deletion and upheld the relief granted to the assessee, causing the Revenue's challenge to fail. Case-Laws VAT and Sales Tax Mon, 19 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257198