https://www.taxtmi.com/caselaws?id=756301 Tax demand arising from belated filing of returns and consequential reversal of Input Tax Credit was sustained because the assessment record showed the returns on the web portal and supported the tax conclusion. Penalty for belated filing was set aside, however, because the authority failed to consider a binding Division Bench precedent relied upon by the assessee on the scope of penalty under the Tamil Nadu VAT law. The penalty issue was remanded for fresh consideration after hearing the assessee, while the tax component was left undisturbed. en-us Mon, 29 Jul 2024 00:00:00 +0530 Thu, 01 Aug 2024 08:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756301 Tax demand arising from belated filing of returns and consequential reversal of Input Tax Credit was sustained because the assessment record showed the returns on the web portal and supported the tax conclusion. Penalty for belated filing was set aside, however, because the authority failed to consider a binding Division Bench precedent relied upon by the assessee on the scope of penalty under the Tamil Nadu VAT law. The penalty issue was remanded for fresh consideration after hearing the assessee, while the tax component was left undisturbed. Case-Laws VAT and Sales Tax Mon, 29 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756301