Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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The CESTAT held that the extended period of limitation could not be invoked against the appellant, as the service tax liability on food and beverages was under judicial consideration during the relevant period, granting the appellant the benefit of the doubt. The Department's delayed communication was deemed a deliberate attempt to unjustifiably extend the limitation period. There was no evidence of suppression or intent to evade tax by the appellant, who had cooperated fully. Precedents emphasize the necessity of a prima facie finding of willful suppression or fraud to invoke extended limitation. Consequently, the show cause notice was held time-barred, the impugned order was set aside, and the appeal allowed without adjudicating on merits.
The CESTAT held that the extended period of limitation could not be invoked against the appellant, as the service tax liability on food and beverages was under judicial consideration during the relevant period, granting the appellant the benefit of the doubt. The Department's delayed communication was deemed a deliberate attempt to unjustifiably extend the limitation period. There was no evidence of suppression or intent to evade tax by the appellant, who had cooperated fully. Precedents emphasize the necessity of a prima facie finding of willful suppression or fraud to invoke extended limitation. Consequently, the show cause notice was held time-barred, the impugned order was set aside, and the appeal allowed without adjudicating on merits.
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