https://www.taxtmi.com/caselaws?id=83851 The extended limitation period under Section 11A cannot be invoked for differential modvat credit where the relevant facts are disclosed in statutory records and no suppression or fraud is proved; on that basis, the demand was time-barred and set aside. The penalty for availing credit at the higher rate was nevertheless sustained because the disclosed records did not negate culpable conduct for penal purposes. The stated principle is that full disclosure in records defeats extended limitation, but penalty may still follow where the conduct shows knowing availment at the higher rate. en-us Fri, 02 Dec 1994 00:00:00 +0530 Mon, 18 Jul 2011 13:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83851 The extended limitation period under Section 11A cannot be invoked for differential modvat credit where the relevant facts are disclosed in statutory records and no suppression or fraud is proved; on that basis, the demand was time-barred and set aside. The penalty for availing credit at the higher rate was nevertheless sustained because the disclosed records did not negate culpable conduct for penal purposes. The stated principle is that full disclosure in records defeats extended limitation, but penalty may still follow where the conduct shows knowing availment at the higher rate. Case-Laws Central Excise Fri, 02 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83851