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Whether penalty is leviable if irregular input tax credit was availed but not utilized ?
TRT-2026-791
Issue Favourable to Tax Payer ?:- yes
Held - From the above response, it is very clear that the appellant had clearly mentioned that though the credit was taken by mistake belatedly, the credit was not availed by the Mill. This fact has been very conveniently ignored by the Adjudicating Authority who has chosen to incorporate at paragraph 5 of the Order-in-Original only the first portion as to the availment by mistake of credit and the non-reversal of the same. Thus, when the cred.....
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