BOI has stated that it is currently in the process of lodging an appeal with the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) against the order.
The Allahabad High Court has held that mere technical errors under tax laws without any financial implications should not be grounds for imposition of penalties.While dealing with the case of goods.
The order has been passed on the basis that closing balance of Input Service Distributor (ISD) credit available in pre-GST regime was wrongly carried forward into GST regime; Mahindra & Mahindra Receives Rs 56 Crore Tax Penalty; Company to Challenge