https://www.taxtmi.com/caselaws?id=207934 The appellate authority upheld the denial of cenvat credit on service tax paid for charges related to the import of a car, as the car was owned by the Managing Director individually, not by the company. The non-disclosure of ownership details justified invoking a longer assessment period. However, the penalty was waived under Section 80 of the Finance Act, 1994, due to the appellant's genuine belief. The judgment favored the Revenue, denying the credit but relieving the appellant of the penalty, emphasizing the importance of disclosing ownership details for tax purposes. en-us Fri, 04 Feb 2011 00:00:00 +0530 Fri, 30 Dec 2011 08:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207934 The appellate authority upheld the denial of cenvat credit on service tax paid for charges related to the import of a car, as the car was owned by the Managing Director individually, not by the company. The non-disclosure of ownership details justified invoking a longer assessment period. However, the penalty was waived under Section 80 of the Finance Act, 1994, due to the appellant's genuine belief. The judgment favored the Revenue, denying the credit but relieving the appellant of the penalty, emphasizing the importance of disclosing ownership details for tax purposes. Case-Laws Service Tax Fri, 04 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207934