https://www.taxtmi.com/caselaws?id=355570 Input tax credit reversal based on alleged manufacturing loss and non-filing of stock transfer particulars was discussed in the context of an enforcement inspection, with the Court stressing that manufacturing loss must be determined on a scientific basis and after a realistic inspection of the dealer's factory and process. Although the assessee had not acted diligently, the Court considered that one further opportunity could be granted to avoid prejudice. The assessment orders were not quashed outright; instead, the assessee was permitted to treat them as show-cause notices, file objections, and obtain a personal hearing after payment of 15% of the disputed tax for each assessment year. en-us Wed, 07 Feb 2018 00:00:00 +0530 Fri, 16 Feb 2018 07:08:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355570 Input tax credit reversal based on alleged manufacturing loss and non-filing of stock transfer particulars was discussed in the context of an enforcement inspection, with the Court stressing that manufacturing loss must be determined on a scientific basis and after a realistic inspection of the dealer's factory and process. Although the assessee had not acted diligently, the Court considered that one further opportunity could be granted to avoid prejudice. The assessment orders were not quashed outright; instead, the assessee was permitted to treat them as show-cause notices, file objections, and obtain a personal hearing after payment of 15% of the disputed tax for each assessment year. Case-Laws VAT and Sales Tax Wed, 07 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355570