Bombay HC Sets Aside Rejection of Transitional Credit Claim, Orders Fresh Hearing

Taiyo Nippon Sanso India Pvt. Ltd. Vs Union of India & Ors. (Bombay High Court) Bombay HC Sets Aside Rejection of Transitional Credit Claim, Orders Fresh Consideration After Hearing Petitioner The petitioner is a subsidiary of a foreign MNC. It is engaged in sale of Multi specialty gases. It availed transitional credit. The credit was sought to be disallowed on thr ground that such credit cannot be availed due to delay. It contended that the state authorities have already initiated audit proceedings; hence; there was duplication of proceedings. However; order came to be passed. A rectifica...