TMI Blog2024 (3) TMI 1267X X X X Extracts X X X X X X X X Extracts X X X X ..... iscrepancy '7', the petitioner stated that revenues from Telangana, Andhra Pradesh and Kerala had been included on the basis of the audited financial statement and that such inclusion is untenable. A trial balance was also submitted. Although the petitioner should have responded to the intimation and show cause notice and availed of the opportunity of personal hearing, in the above facts and circumstances, the impugned assessment order calls for interference albeit by putting the petitioner on terms. The impugned assessment order is quashed subject to the condition that the petitioner remits a sum of Rs. 15,00,000/- as agreed to towards the disputed tax demand within a maximum period of two weeks from the date of receipt of a copy o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the reply dated 15.02.2023, learned counsel pointed out that each discrepancy was addressed therein. With specific reference to discrepancy '11', which pertains to Input Tax Credit (ITC) reversal for non payment for 180 days, learned counsel pointed out that the ageing report in respect of sundry creditors was provided by the petitioner. He further submits that the petitioner is entitled to claim ITC in respect of delayed payments subject to payment of interest. By thereafter referring to the intimation, show cause notice and the impugned assessment order, learned counsel points out that the reply of the petitioner at the inspection stage was completely disregarded. Apart from the ITC reversal due to non payment for 180 days, he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ues from Telangana, Andhra Pradesh and Kerala had been included on the basis of the audited financial statement and that such inclusion is untenable. A trial balance was also submitted. Although the petitioner should have responded to the intimation and show cause notice and availed of the opportunity of personal hearing, in the above facts and circumstances, the impugned assessment order calls for interference albeit by putting the petitioner on terms. 7. For reasons set out above, the impugned assessment order is quashed subject to the condition that the petitioner remits a sum of Rs. 15,00,000/- as agreed to towards the disputed tax demand within a maximum period of two weeks from the date of receipt of a copy of this order. The petition ..... X X X X Extracts X X X X X X X X Extracts X X X X
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