https://www.taxtmi.com/caselaws?id=434317 The court dismissed the review petition, affirming the Tribunal's decision that there was no wilful suppression with intent to evade Service Tax, thus invalidating the invocation of the extended period of limitation under Section 73 of the Finance Act. The bank's defense of system failure was deemed insufficient to justify non-payment over three years. The court upheld the waiver of penalties under Section 78, emphasizing the necessity of intent for invoking extended limitation periods and the importance of timely tax compliance and disclosure. en-us Tue, 31 Jan 2023 00:00:00 +0530 Wed, 18 Oct 2023 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434317 The court dismissed the review petition, affirming the Tribunal's decision that there was no wilful suppression with intent to evade Service Tax, thus invalidating the invocation of the extended period of limitation under Section 73 of the Finance Act. The bank's defense of system failure was deemed insufficient to justify non-payment over three years. The court upheld the waiver of penalties under Section 78, emphasizing the necessity of intent for invoking extended limitation periods and the importance of timely tax compliance and disclosure. Case-Laws Service Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434317