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INDIAN RAILWAY FINANCE CORPORATION LIMITED vs. ASSISTANT COMMISSIONER (ST), CHENNAI
(Madras High Court)

Hon'ble Judges:

KRISHNAN RAMASAMY

Pet. Counsel

Raghav Rajeev

Res. Counsel

C. Harsha Raj

Petitioner / Applicant	INDIAN RAILWAY FINANCE CORPORATION LIMITED
Respondent	ASSISTANT COMMISSIONER (ST), CHENNAI
Court	Madras High Court
State	Tamilnadu
Date	Apr 7, 2025
Order No.	WP No. 8992 of 2025 and WMP No. 10101 of 2025
Citation	2025(4) TAXREPLY 13143
Original Order
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ORDER
ORDER The present Writ Petition is filed challenging the impugned assessment order dated 04.12.2024 passed by the respondent relating to the assessment year 2020-21, on the ground of violation of principles of natural justice. 2. It is submitted by the learned counsel for the petitioner that the petitioner is engaged in the business of financial leasing services under the CGST Act. It is stated that for the impugned period, the petitioner's principal business was to borrow funds from the financial markets to finance acquisition/creation of assets which are then leased out to the Indian Railways. The petitioner is also engaged in providing financial leasing of rolling stock assets, leasing of railway infrastructure assets and national railway projects of the Government of India. During the relevant period viz., 2020-21, the petitioner had filed its return and paid appropriate taxes. 2.1. He would submit that, initially a show cause notice in Form DRC-01 was issued to ....