2011 (10) TMI 87

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nbsp;      Per :  Mr. B.S.V. Murthy; During the course of audit of records of the assessee, it was found that assessee had paid service tax and education cess of Rs. 4,20,389/- by debiting the cenvat account vide entry No. 997 dated 01.10.2005, towards the service tax and services received from foreign commission agents. This amount was taken as credit vide entry No.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r service tax with interest. Penalty equal to service tax amount demanded has also been imposed. 2. Heard both sides. I find that it is not necessary to go into the merits of the case since the show cause notice has been issued by invoking extended period and alleging suppression of facts and mis-declaration. I reached the conclusion that extended period should not have been invoked after heari....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ce tax and availing the credit, extended period could not have been invoked after one year period to demnd the cenvat credit taken by them. The appellant apparently entertained a bonafide belief that by regularising the entry by reversal of the credit taken in the service tax account and reversal of debit in their cenvat credit account was in order. The following decisions of the Tribunal cited by....