https://www.taxtmi.com/caselaws?id=288535 Input tax credit was denied on purchases suppressed from the books of account, because credit is not available on a bill-to-bill basis where the transactions are outside the regular records, even if some invoices show tax collection. The penalty issue was confined to whether the amount should match the actual tax sought to be evaded, and the penalty was reduced to that extent. The findings on suppression and denial of input tax credit were maintained, while the penalty was moderated in favour of the assessee. en-us Fri, 20 Jul 2012 00:00:00 +0530 Mon, 15 Jun 2020 10:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288535 Input tax credit was denied on purchases suppressed from the books of account, because credit is not available on a bill-to-bill basis where the transactions are outside the regular records, even if some invoices show tax collection. The penalty issue was confined to whether the amount should match the actual tax sought to be evaded, and the penalty was reduced to that extent. The findings on suppression and denial of input tax credit were maintained, while the penalty was moderated in favour of the assessee. Case-Laws VAT and Sales Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288535