Karnataka HC Set Aside ITC Denial Due to Failure to Examine Genuine Transactions

Jain Steels And Alloys Mfrs Vs Assistant Commissioner of Commercial Taxes (Karnataka High Court) The petitioner challenged a reassessment order and consequential demand notice dated 30.03.2019 issued under the Karnataka Value Added Tax Act, 2003 for the tax period April 2014 to March 2015, insofar as it disallowed input tax credit. The petitioner, a registered dealer engaged in manufacturing and reprocessing of steel bars and related job work, contended that the denial of input tax credit was unjustified. The reassessment proceedings were concluded by the Assessing Authority after issuing a pr...