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TMI Blog2022 (8) TMI 1144X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent Nos.4 and 5 annexed copy of its reasons to believe in its reply. It is not even clear whether any such reasons to believe has been recorded in writing - the concerned officer is bound to furnish these reasons to the assessee. On receipt of such reasons, the assessee is entitled to file objections to taking of any such action and the concerned officer is bound to dispose the same by passing a speaking order. Respondent No.5 is therefore, directed to make available to petitioner by 26th August, 2022 copy of the reasons to believe . Should petitioner wish to file a further affidavit in support to deal with the reasons to believe, petitioner may do so. If petitioner wish to amend the petition, petitioner may tender draft amendmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he reasons for such belief must be based only on one or more of the following grounds : a) The credit is availed by the registered person on the invoices or debit notes issued by a supplier, who is found to be non-existent or is found not to be conducting any business from the place declared in registration. b) The credit is availed by the registered person on invoices or debit notes, without actually receiving any goods or services or both. c) The credit is availed by the registered person on invoices or debit notes, the tax in respect of which has not been paid to the government. d) The registered person claiming the credit is found to be non-existent or is found not to be conducting any business from the place declared ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re and caution. It contemplates an objective determination based on intelligent care and evaluation as distinguished from a purely subjective consideration of suspicion. The reasons are to be on the basis of material evidence available or gathered in relation to fraudulent availment of input tax credit or ineligible input tax credit availed as per the conditions/grounds under sub-rule (1) of rule 86 A. Even the CBITC has understood the possibility of this power under Section 86 A being abused and hence has even advised that it should not be exercised in a mechanical manner but only on careful examination of all the facts of the case because it is an extra ordinary power by its very nature. CBITC has also advised that this extraordinary ..... X X X X Extracts X X X X X X X X Extracts X X X X
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