https://www.taxtmi.com/caselaws?id=82696 Extended limitation for recovery of excess Modvat credit is available only on proof of wilful suppression, collusion or misstatement; where the excess credit was fully reflected in RG-23A records, RT-12 returns and the transitional credit application, the normal period applied and the demand was barred to that extent. Wrong availment of credit nevertheless attracted penalty under the relevant rule, and the absence of mens rea did not prevent its imposition where the rule treated excess credit as sufficient for penal action. The penalty was therefore sustained, resulting in only partial relief. en-us Mon, 06 Sep 1993 00:00:00 +0530 Wed, 06 Jul 2011 17:48:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82696 Extended limitation for recovery of excess Modvat credit is available only on proof of wilful suppression, collusion or misstatement; where the excess credit was fully reflected in RG-23A records, RT-12 returns and the transitional credit application, the normal period applied and the demand was barred to that extent. Wrong availment of credit nevertheless attracted penalty under the relevant rule, and the absence of mens rea did not prevent its imposition where the rule treated excess credit as sufficient for penal action. The penalty was therefore sustained, resulting in only partial relief. Case-Laws Central Excise Mon, 06 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82696