TMI Blog2018 (12) TMI 250X X X X Extracts X X X X X X X X Extracts X X X X ..... herefore, the demand for the extended period of limitation up to 24.03.2014 is set aside. Also, from the period from 25.03.2014 to 11.07.2014 levy was exempted under the said Mega Notification. Penalty - Held that:- Since the demand during the extended period of limitation is not sustainable, the penalty imposed under Section 78 of the Finance Act, 1994 is set aside. Appeal allowed. - AP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d from 2010-11 to 2014-15. The said demand was confirmed and the matter has culminated into filing of the present appeal. 3. Heard the learned Chartered Accountant Shri Kapil Vaish on behalf of the appellant and Shri Mohammad Altaf, learned Assistant Commissioner A.R. on behalf of the revenue. We note that the demand was raised by invoking the extended period of limitation and the matter was re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod prior to 24.03.2014 was covered by extended period of limitation. We further note that it was submitted by the learned Counsel that w.e.f. 01.07.2012 to 10.07.2014 the activity was exempted through Clause 23(b) of Mega Exemption Notification No.25/2012 dated 20.06.2012. We further note that the said notification was amended through Notification No.6/2014 dated 11.07.2014 wherein the said ent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 03.2014 to 11.07.2014 levy was exempted under the said Mega Notification. Since the demand during the extended period of limitation is not sustainable, we set aside the penalty imposed under Section 78 of the Finance Act, 1994. To sum up, we hold that for the period prior to 24.03.2014 the demand is set aside since the same is for extended period, for the period from 24.03.2014 to 10.07.2014 the l ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
