Tuesday, 25 February 2014

Extended period was invocable only if misstatement was wilful

Service Tax : When assessee avails certain benefits/Cenvat credit claiming to be covered by statute and when it is found that such benefits are not available, surely assessee can be stated to have made misstatement, but, for invocation of extened period of limitation and levy of penalty, such misstatement must be shown to be wilful


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