https://www.taxtmi.com/caselaws?id=302885 The CESTAT's decision to drop the demand for an extended period was upheld by the court. The court found that the trading details available in the Balance Sheet indicated the department's awareness of the trading activities, leading to the rejection of the appellant's argument regarding prior knowledge. Additionally, the court ruled in favor of the respondent, emphasizing that the trading activity being declared in the Balance Sheet negated any suppression of facts, and the belief in treating trading as exempted services was bona fide, justifying the dismissal of the extended period demand. en-us Tue, 01 Jun 2021 00:00:00 +0530 Thu, 23 Jun 2022 09:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302885 The CESTAT's decision to drop the demand for an extended period was upheld by the court. The court found that the trading details available in the Balance Sheet indicated the department's awareness of the trading activities, leading to the rejection of the appellant's argument regarding prior knowledge. Additionally, the court ruled in favor of the respondent, emphasizing that the trading activity being declared in the Balance Sheet negated any suppression of facts, and the belief in treating trading as exempted services was bona fide, justifying the dismissal of the extended period demand. Case-Laws Central Excise Tue, 01 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302885