Madras HC sets aside Rs 230.55 cr GST demand against IRFC

The Madras High Court set aside a ₹230.55 crore GST demand against the Indian Railway Finance Corporation (IRFC). The High Court found irregularities in the manner in which the demand was raised and the assessment was conducted by the tax authorities. The court emphasized the need for adherence to proper legal procedures and principles of natural justice in tax assessments. The setting aside of this substantial GST demand provides significant relief to IRFC and underscores the judiciary's role in ensuring fairness and legality in tax administration and protecting the interests of taxpayers against arbitrary or flawed assessments.