Court Sets Aside Order on Excess Input Tax Credit Claims, Directs 25% Deposit of Disputed Taxes Within Four Weeks

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....The HC set aside the impugned order dated 07.03.2024 concerning excess Input Tax Credit (ITC) claimed due to non-reconciliation of information, including ITC from cancelled dealers, return defaulters, and tax non-payers. The Court directed the petitioner to deposit 25% of the disputed taxes determined in the impugned order within four weeks from receipt of the Court's order, as the petitioner had expressed willingness to pay this amount. Upon this condition being fulfilled, the impugned order was set aside and the petition was disposed of.....