https://www.taxtmi.com/article/detailed?id=1815 Section 73 (3)-(4) of the Finance Act and Section 11A(2B) of the Central Excise Act provide that if a taxpayer pays the tax and interest, penalty will not be levied nor an SCN issued unless the shortfall is due to fraud, collusion, wilful misstatement or suppression of facts. Administrative practice and circulars, however, direct issuance of SCNs and protective demand notices on audit objections, and field formations often pursue litigation and appeals despite monetary insignificance, including procedures for handling Local Audit Reports and timing for adjudication where objections are not admitted. en-us Thu, 12 Jul 2012 08:14:31 +0530 Thu, 12 Jul 2012 08:14:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1815 Section 73 (3)-(4) of the Finance Act and Section 11A(2B) of the Central Excise Act provide that if a taxpayer pays the tax and interest, penalty will not be levied nor an SCN issued unless the shortfall is due to fraud, collusion, wilful misstatement or suppression of facts. Administrative practice and circulars, however, direct issuance of SCNs and protective demand notices on audit objections, and field formations often pursue litigation and appeals despite monetary insignificance, including procedures for handling Local Audit Reports and timing for adjudication where objections are not admitted. Articles Service Tax Thu, 12 Jul 2012 08:14:31 +0530 https://www.taxtmi.com/article/detailed?id=1815