https://www.taxtmi.com/article/detailed?id=5950 The Tribunal concluded that invocation of the extended period is inconsistent where penalties have been waived on account of an interpretational issue under the Finance Act, as such waiver indicates absence of elements necessary to extend limitation. It further required the adjudicating authority to expressly consider the assessee's explanation for ledger-return mismatches (accrual versus realization accounting and claimed exemption) and to decide the matter afresh without relying on extended period invocation. en-us Thu, 18 Dec 2014 06:12:56 +0530 Thu, 18 Dec 2014 06:12:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5950 The Tribunal concluded that invocation of the extended period is inconsistent where penalties have been waived on account of an interpretational issue under the Finance Act, as such waiver indicates absence of elements necessary to extend limitation. It further required the adjudicating authority to expressly consider the assessee's explanation for ledger-return mismatches (accrual versus realization accounting and claimed exemption) and to decide the matter afresh without relying on extended period invocation. Articles Service Tax Thu, 18 Dec 2014 06:12:56 +0530 https://www.taxtmi.com/article/detailed?id=5950