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2019 (8) TMI 1174 - MADRAS HIGH COURTExtended period of limitation - CENVAT Credit - trading activity - exempt services or not - bonafide belief - HELD THAT:- The position was clarified by the Government by insertion of Explanation only with effect from 1.4.2011 that the trading activity will be Exempted Services. The Explanation is clarificatory in nature and can be held to be applicable even for the past period. Thus, at the relevant period of time, viz., from April 2009 to March 2011, the Assessee was, obviously, under bona fide belief in view of the conflicting decisions of the Tribunals during that period and taking the trading activity as Exempted Services, availed the CENVAT Credit which is sought to be reversed and recovered by the Department invoking the extended period of limitation. Such a bona fide belief cannot be held to be done with ulterior purpose for evading the Duty and therefore, the extended period of limitation would not be available to the Revenue Authority in view of the aforesaid decision rendered by the Hon'ble Supreme Court in COMMISSIONER OF CENTRAL EXICSE, VAPI VERSUS M/S. KOLETY GUM INDUSTRIES [2016 (5) TMI 275 - SUPREME COURT]. Appeal dismissed - decided against Revenue.
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