9911796707
TMI Blog2024 (1) TMI 1103X X X X Extracts X X X X X X X X Extracts X X X X ..... d order came to be issued on the basis of the total trade payables of the petitioner - HELD THAT:- Under the Companies Act, 2013, every company is required to file financial statements in respect of its entire operations and there is no provision for filing State-specific financial statements. However, the petitioner has submitted a certificate from a Chartered Accountant stating that the trade p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. The petitioner stated that it is a registered person under GST laws and that it had claimed Input Tax Credit (ITC) under Section 16 of the CGST Act. In respect thereof, it is stated that a show cause notice was issued with regard to non-payment to the suppliers for a period exceeding 180 days. In spite of the petitioner replying thereto and providing all supporting documents, including the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have simply stated in their contention there is no such payment pending to their supplier. In the absence of such records, contention put-forth by them is not acceptable. The proposal is hereby confirmed. From the above extract, it follows that the assessing officer concluded that the entire trade payables of the company across India should be taken as the trade payables because the petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tly, the matter is remanded for reconsideration by the assessing authority. The assessing authority is directed to take into consideration all relevant documents produced by the petitioner, provide a reasonable opportunity to the petitioner and issue a fresh order within a period of two months from the date of receipt of a copy of this order. The writ petition is allowed on the above terms. There ..... X X X X Extracts X X X X X X X X Extracts X X X X
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