https://www.taxtmi.com/caselaws?id=258329 Wrongful availment of input tax credit without entitlement attracted mandatory penalty under the statutory scheme. Because the excess credit was detected for the first time, the case was held to fall under the provision prescribing a fifty per cent penalty rather than the higher one hundred per cent penalty. The notice and opportunity to show cause were found to have been complied with. The penalty was therefore sustained in favour of the Revenue, and the Tribunal's restriction of the levy to the first-detection penalty was upheld. en-us Wed, 13 Aug 2014 00:00:00 +0530 Mon, 27 Jul 2015 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258329 Wrongful availment of input tax credit without entitlement attracted mandatory penalty under the statutory scheme. Because the excess credit was detected for the first time, the case was held to fall under the provision prescribing a fifty per cent penalty rather than the higher one hundred per cent penalty. The notice and opportunity to show cause were found to have been complied with. The penalty was therefore sustained in favour of the Revenue, and the Tribunal's restriction of the levy to the first-detection penalty was upheld. Case-Laws VAT and Sales Tax Wed, 13 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258329