Litigation Tracker : Delhi HC restricts coercive action against interest recovery on total liability without adjusting ITC

Delhi HC issues notice to Revenue and restricts coercive action against petitioner towards recovery of interest on total tax liability without adjusting ITC; Notes assessee’s plea that interest has been calculated even on the amount constituting ITC which is in fact to be adjusted against tax liability and that interest liability works out to 8.19 crores against the total tax liability of Rs.3.31 crores which makes it unreasonable and erroneous; Lists the matter before the ...