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RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Excise assessment of superior kerosene oil is determined by its form and exemption eligibility at factory removal. Kerosene cleared for sale through the Public Distribution System after satisfying exemption conditions does not become assessable at motor-spirit or high-speed-diesel rates merely because it later forms a pipeline interface beyond the refinery; an administrative circular cannot create liability contrary to governing provisions. The differential-duty demand on interface kerosene was therefore unsustainable. Extended limitation requires evidence of suppression or wilful misstatement with intent to evade duty; departmental ability to inquire and a bona fide belief defeated its use. Without such evidence, penalties against the entities and employee were not imposable.
Excise assessment of superior kerosene oil is determined by its form and exemption eligibility at factory removal. Kerosene cleared for sale through the Public Distribution System after satisfying exemption conditions does not become assessable at motor-spirit or high-speed-diesel rates merely because it later forms a pipeline interface beyond the refinery; an administrative circular cannot create liability contrary to governing provisions. The differential-duty demand on interface kerosene was therefore unsustainable. Extended limitation requires evidence of suppression or wilful misstatement with intent to evade duty; departmental ability to inquire and a bona fide belief defeated its use. Without such evidence, penalties against the entities and employee were not imposable.
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