https://www.taxtmi.com/caselaws?id=445773 The Madras HC dismissed writ petitions challenging ITC disallowance under Section 74 for alleged bogus invoice creation and circular trading without goods movement. The court found that ITC disallowance affected the beneficiary company in liquidation, not the petitioners. Penalty and interest were imposed based on search evidence showing petitioners created false invoices without conducting actual business activities or receiving goods. The court found no violation of natural justice principles and noted availability of efficacious appeal remedy. Petitioners were granted liberty to file appeals within 30 days without limitation constraints. en-us Mon, 30 Oct 2023 00:00:00 +0530 Tue, 22 Apr 2025 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445773 The Madras HC dismissed writ petitions challenging ITC disallowance under Section 74 for alleged bogus invoice creation and circular trading without goods movement. The court found that ITC disallowance affected the beneficiary company in liquidation, not the petitioners. Penalty and interest were imposed based on search evidence showing petitioners created false invoices without conducting actual business activities or receiving goods. The court found no violation of natural justice principles and noted availability of efficacious appeal remedy. Petitioners were granted liberty to file appeals within 30 days without limitation constraints. Case-Laws GST Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445773