2024 (10) TMI 1217

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..... materials placed on record by the petitioner were not duly considered - wrongful availment of ITC - HELD THAT:- On perusal of the impugned order, it is evident that the tax dues towards SGST and CGST were discharged by the petitioner. It also appears that 100% penalty was imposed under Section 74 without recording any reasons for invoking Section 74. In these circumstances, the matter requires re- .....

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..... ereto. Upon realizing that ITC should not have been availed of in respect of such purchase, the petitioner paid the tax dues under Form GST DRC 03 on 12.09.2023. This was communicated to the respondent in reply dated 12.06.2023 to show cause notice dated 03.05.2023. The impugned order was issued in these facts and circumstances. 3. Learned counsel for the petitioner submits that proceedings were i .....

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..... relying on a circular issued by the CBIC, the petitioner contends that interest should not be levied. On perusal of the impugned order, it is evident that the tax dues towards SGST and CGST were discharged by the petitioner. It also appears that 100% penalty was imposed under Section 74 without recording any reasons for invoking Section 74. In these circumstances, the matter requires re-considera .....

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