Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
CESTAT held that the consortium's services constituted works contract service under Section 65A of the Finance Act, 1994. The tribunal rejected exemption claims under Notifications 11/2010-ST, 32/2010-ST, and 45/2010-ST, finding they did not apply to EPC contract services. The extended period of limitation was not invoked due to bonafide belief and interpretational confusion. Penalties were set aside considering the appellant's government undertaking status. The appeal was partly allowed, upholding service tax classification while providing relief on limitation and penalties.
CESTAT held that the consortium's services constituted works contract service under Section 65A of the Finance Act, 1994. The tribunal rejected exemption claims under Notifications 11/2010-ST, 32/2010-ST, and 45/2010-ST, finding they did not apply to EPC contract services. The extended period of limitation was not invoked due to bonafide belief and interpretational confusion. Penalties were set aside considering the appellant's government undertaking status. The appeal was partly allowed, upholding service tax classification while providing relief on limitation and penalties.
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TaxTMI 
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