https://www.taxtmi.com/caselaws?id=89257 Bona fide reliance on the prevailing Supreme Court ruling in Bata India on assessable value for exemption purposes can defeat invocation of the extended limitation period. The Tribunal accepted that the assessee could reasonably believe, on that legal position, that duty element had to be deducted while computing the exemption limit under the notification. Because that belief negated any basis for alleging suppression or similar grounds for extended limitation, the notice issued beyond the normal period could not sustain the duty demand, and the demand was set aside as time-barred. en-us Thu, 16 Apr 1998 00:00:00 +0530 Sat, 24 Sep 2011 14:20:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89257 Bona fide reliance on the prevailing Supreme Court ruling in Bata India on assessable value for exemption purposes can defeat invocation of the extended limitation period. The Tribunal accepted that the assessee could reasonably believe, on that legal position, that duty element had to be deducted while computing the exemption limit under the notification. Because that belief negated any basis for alleging suppression or similar grounds for extended limitation, the notice issued beyond the normal period could not sustain the duty demand, and the demand was set aside as time-barred. Case-Laws Central Excise Thu, 16 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89257