TaxTMI 
TaxTMI 
2012 (9) TMI 76
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....rchana Wadhwa, Judicial Member - All the appeals, some filed by the assessee and some filed by the Revenue are being disposed of by a common order as the issue is covered by the Larger Bench of the Tribunal. 2. The appellants / respondents are engaged in providing photographic services. The disputed issue is as to whether the cost of materials used in providing such service is required to be add....
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....e assessee and disputed issued stands settled with the subsequent declaration of law by the Larger Bench, the demands would be barred by limitation. For better appreciation we reproduce relevant paragraphs of the decision of the Tribunal: "5.... It is seen that the said issue was the subject matter of consideration by the Government as also by the Tribunal. Government in its circular F.No. 233/2/....
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.... there is a bona fide doubt as regards the non-excisability of the goods due to divergent views of the High Courts extended period of five years cannot be invoked. It further stands observed that mere failure or negligence in not taking licence or not paying duty is not sufficient to invoke extended period. By applying the ratio of law declared in the above decision, we find that since the earlier....
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....ent back for requantifying the demand falling within the period of limitation. The Bench further observed that on account of bona fide belief, no penalty is required to be imposed. By applying the ratio of the above decision to the facts of the present case, we hold that the demand beyond the period of limitation is time barred and no penalty is required to be imposed. Matters are remanded for req....