TaxTMI 
TaxTMI 
2024 (3) TMI 18
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.... respondent No. 2 to the petitioner whereby the extended period of limitation has been invoked, namely under the proviso below section 73 of the Finance Act, 1994. The challenge to the show cause notice is on more than one ground, the principal ground being that the show cause notice is ex facie beyond the prescribed limitation as provided for under proviso to Section 37C(2) of the Central Excise Act, 1944, as the same has been issued beyond the period of five years. 3. It appears to be not in dispute that on 23 August, 2016, Aqua Holding Investments Pvt. Ltd. (for short "Aqua") was incorporated with equal share holding by SPE Mauritius Holding Ltd. (for short "SPEH") and SPE Mauritius Investment Ltd. (for short "SPEI"). On 31 August, 2016....
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....ehalf of the petitioner, namely on the territorial jurisdiction of respondent No. 3 to issue the impugned show cause notice. It is also the petitioner's contention that there is a patent illegality in pressing into service the reverse charge mechanism in respect of a transaction which had in fact taken place between the sellers of TTL and Aqua under the Business Purchase Agreement dated 31 August 2016. 6. Mr. Mishra, learned counsel for the respondent, on the other hand, has opposed this petition, to submit that the issue of limitation as urged on behalf of the petitioner, is a mixed question of law and facts and thus, it would necessarily fall for the consideration of Respondent No. 2 which can be raised by the petitioner in the reply to ....
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....ie, the show cause notice appears to have been received by the petitioner on 28 April 2022, which is certainly not within five years as per the proviso below Section 73 of the Finance Act, 1994 would mandate, so as to fall within such extended period of limitation. On this we do not find that there would be any serious disputed question of fact, on which a finding on evidence would be required to be recorded. 9. If the law provides that the show cause notice is rendered bad, if either not issued or received by assessee as provided under the said provision (Section 73), then certainly the issue would become a jurisdictional issue and any adjudication of the same would be unwarranted. 10. This apart, there are other issues as to whether, in....