TMI Blog2017 (9) TMI 1193X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of Section 72, we note that the basis of arriving at the taxable value should be clearly recorded. In the present case the claim of the appellant is that they ceased operation in February, 2009 itself. This aspect also requires verification. Considering the serious infirmities in the present impugned order and also considering that the first notice on the same issue is still pending adjudi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Service Tax liability also imposed equal amount of penalty under Section 78 and further penalty of ₹ 5,000/- under Section 77 of the Finance Act, 1994 on the appellant. On appeal, the Commissioner (Appeals) reduced the tax liability to ₹ 99,915/-, penalty also to that extent. 2. The ld. Counsel for the appellant submits that the present show cause notice issued on 23.03.2011 is actu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce. The ld. Counsel submitted that they have all along cooperated with the Department, even at the time of issue of show cause notice. Many of the earlier correspondence was not received by them. She further submitted that there is absolutely no basis for invoking extended period and above all, invoking provisions of Section 72 without any basis. 3. We have heard both the sides and perused the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a proprietary concern, the details available in Form 26 AS for Income tax purpose cannot automatically form basis for computing taxable value under Finance Act, 1994. There should be evidence of rendering of taxable service during the material period. At this juncture, we note that the first show cause notice dated 16.02.2009 issued to the appellant is still pending adjudication. The appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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