No penalty despite inadmissible claim of transition credit by taxpayer to protect its interests

Tvl. Rashtriya Ispat Nigam Limited Vs Deputy Commissioner (CT) III (Madras High Court)

Coming to the imposition of penalty and levy of interest under the impugned order, I am of the view that sustaining the same would be hyper-technical. No doubt, the petitioner has made an inadmissible claim of transition. However, I have noticed earlier that it was a last ditch effort by a desperate assessee and I reiterate that view.

The counter of the respondent would support the delay for refund citin

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