TaxTMI 
TaxTMI 
Time limit for scn to eou
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....ime limit for scn to eou<br> Query (Issue) Started By: - Amresh kumar Dated:- 16-11-2020 Last Reply Date:- 2-12-2020 Central Excise<br>Got 4 Replies<br>Central Excise<br>We at a 100% e o u. And have executed the bond. The department insists that by virtue of Bond the SCN can be issued after Five years also and there is no time limit for this since bond have executed. Pl advice as the Bond execut....
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....ed also carry's the word that any duty demanded is subject to proviso of Sec 11. Secondary, Audit objection was raised in December 2017 and SCN have been issued in August 2020. Is this hit by limitation act as every details was mentioned in the monthly return but ss usual dept has invoked suppression clause. Regards Amresh kumar Reply By KASTURI SETHI: The Reply: The department's view....
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.... is totally incorrect and without any basis i.e. legal support (no legs to stand). The department cannot go beyond extended period of 5 years irrespective of the fact whether bond executed or not. Secondly, in this scenario extended period cannot be invoked inasmuch as all the facts were in the knowledge of the department. Thirdly, the extended period cannot be invoked on the basis of audit obj....
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....ection. The audit wing raised objection on the basis of statutory records maintained by you. Books of accounts are a statutory. There is a plethora of case laws in your favour on the ground that the extended period cannot be invoked on the basis detection by the Audit Wing of the department. You can easily trace out case laws. However, I shall also try to trace out the same and post case laws i....
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....n you favour. Reply By Ganeshan Kalyani: The Reply: I fully agree with the views of Sri Kasturi Sir. The auditor would have verified all the records before preparing the statement of observation. So, the suppression clause cannot be invoked. Reply By CABIJENDERKUMAR BANSAL: The Reply: Respected Sir I personally differ with the above views the reason being ----Once there is suppression the pe....
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....riod as per the provisions of law is five years there can't be remedy available that it was in your knowledge subsequently at the time of AUDIT please consider this also. Thanks Reply By KASTURI SETHI: The Reply: Case law based on Supreme Court judgments reported as 2020 (12) TMI 31-CESTAT KOLKATA in the case of BST Infratech and Others Vs. CCE and CGST, BOLPUR in favour of the assessee dec....
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....ided on 1.12.2020.<br> Discussion Forum - Knowledge Sharing ....