https://www.taxtmi.com/highlights?id=76423 Refusal to rectify the assessment order passed under Rule 142 (5) of the C.G.S.T. Rules, 2017 - denial of the Input Tax Credit (ITC) - The High Court found merit in the petitioner's arguments, noting that the assessing authority had failed to consider relevant legal precedents and a binding Circular issued by the CBIC. Consequently, the Court set aside the order dated 30.01.2024 and directed the assessing authority to reconsider the matter and issue a fresh reasoned order by a specified deadline. Pending the fresh order, the High Court ordered the disputed demand of tax and penalty to remain in abeyance. en-us Sat, 06 Apr 2024 12:23:11 +0530 Sat, 06 Apr 2024 12:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76423 Refusal to rectify the assessment order passed under Rule 142 (5) of the C.G.S.T. Rules, 2017 - denial of the Input Tax Credit (ITC) - The High Court found merit in the petitioner's arguments, noting that the assessing authority had failed to consider relevant legal precedents and a binding Circular issued by the CBIC. Consequently, the Court set aside the order dated 30.01.2024 and directed the assessing authority to reconsider the matter and issue a fresh reasoned order by a specified deadline. Pending the fresh order, the High Court ordered the disputed demand of tax and penalty to remain in abeyance. Highlights GST Sat, 06 Apr 2024 12:23:11 +0530 https://www.taxtmi.com/highlights?id=76423