Dealers Face Reassessment for Input Tax Credit Reversal Due to Mismatch; Respond to AO Summons as Required.

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....Reversal of ITC - the assessment are sought to be re-opened and the ITC availed by the dealers are directed to be reversed, when a mismatch occurs - If an instruction has already been given to the AO and if any such summon is issued, it is open to the petitioner to make response to the said summons and accordingly, the exercise of revisiting the assessment order can be completed by the third respondent. - HC....