https://www.taxtmi.com/caselaws?id=789715 Section 74 proceedings were held unsustainable where the assessees had voluntarily reversed the disputed input tax credit before the show-cause notice and the department lacked independent material showing fraud, wilful misstatement, or suppression of facts to evade tax. The court further held that interest under Section 50(3) was not leviable because the electronic credit ledger never fell below the disputed amount, so the credit was not shown to have been utilised. The demand of penalty also could not stand, and taxing the same credit again after reversal was treated as impermissible double recovery. en-us Wed, 08 Apr 2026 00:00:00 +0530 Fri, 10 Apr 2026 14:57:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789715 Section 74 proceedings were held unsustainable where the assessees had voluntarily reversed the disputed input tax credit before the show-cause notice and the department lacked independent material showing fraud, wilful misstatement, or suppression of facts to evade tax. The court further held that interest under Section 50(3) was not leviable because the electronic credit ledger never fell below the disputed amount, so the credit was not shown to have been utilised. The demand of penalty also could not stand, and taxing the same credit again after reversal was treated as impermissible double recovery. Case-Laws GST Wed, 08 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789715