No Suppression if SCN was issued based on disclosure in Balance Sheet

Commissioner of Central Tax Vs ABB Limited (Karnataka High Court) Suppression of facts cannot be alleged when the trading activities in form of Balance Sheet are declared The Hon’ble Karnataka High Court in Commissioner of Central Tax v. ABB Limited [Central Excise Appeal No.16/2021 dated June 01, 2022] affirmed the order passed by the CESTAT, Bangalore holding that the assessee is not liable to reverse the CENVAT credit availed, on the grounds of absence of suppression of facts. Held that, balance sheet is conclusive evidence in itself to infer trading activities of an assessee and allegat...