https://www.taxtmi.com/caselaws?id=762776 The Madras HC allowed the appeal in a tax matter where the appellant failed to pay tax on certain taxable events. The court held that the extended limitation period under Section 73 proviso of Finance Act, 1994 was wrongly invoked as there was no willful suppression of facts by the appellant. Following SC precedent in Pushpam Pharmaceuticals, the court emphasized that suppression must be deliberate, not mere omission. The show cause notice lacked material evidence of malafide intent to evade tax. Consequently, penalties under Section 78 and Rule 15(3) were unwarranted, and the Appellate Tribunal's order was set aside. en-us Thu, 17 Oct 2024 00:00:00 +0530 Fri, 06 Dec 2024 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762776 The Madras HC allowed the appeal in a tax matter where the appellant failed to pay tax on certain taxable events. The court held that the extended limitation period under Section 73 proviso of Finance Act, 1994 was wrongly invoked as there was no willful suppression of facts by the appellant. Following SC precedent in Pushpam Pharmaceuticals, the court emphasized that suppression must be deliberate, not mere omission. The show cause notice lacked material evidence of malafide intent to evade tax. Consequently, penalties under Section 78 and Rule 15(3) were unwarranted, and the Appellate Tribunal's order was set aside. Case-Laws Service Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762776