https://www.taxtmi.com/caselaws?id=330748 The Court set aside the assessment orders challenging input tax credit reversals and proposed penalties under the Tamil Nadu Value Added Tax Act and Central Sales Tax Act. It found the orders arbitrary and lacking proper justification, emphasizing the need for reasoned decisions based on legal precedents. The Court ruled that penalty imposition without evidence of taxable turnover escapement was unwarranted, remitting the matters for fresh consideration by the respondent. The case concluded without costs, ensuring a fair review process. en-us Thu, 23 Jun 2016 00:00:00 +0530 Thu, 04 Aug 2016 13:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330748 The Court set aside the assessment orders challenging input tax credit reversals and proposed penalties under the Tamil Nadu Value Added Tax Act and Central Sales Tax Act. It found the orders arbitrary and lacking proper justification, emphasizing the need for reasoned decisions based on legal precedents. The Court ruled that penalty imposition without evidence of taxable turnover escapement was unwarranted, remitting the matters for fresh consideration by the respondent. The case concluded without costs, ensuring a fair review process. Case-Laws VAT and Sales Tax Thu, 23 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330748