https://www.taxtmi.com/caselaws?id=90379 CEGAT held that the extended period for reversal of Modvat credit on inputs not covered by the Rule 57G declaration was unavailable because the department already knew, from its own correspondence and RT-12 returns, that credit had been taken on MS plates, pipes, channels and similar items; without suppression, the limitation plea failed and the demand was unsustainable. It also held that penalty could not be imposed where the show cause notice did not propose any penal action, since a notice must specifically alert the assessee to the proposed consequence. The demand and penalty were therefore set aside, giving complete relief to the assessee. en-us Wed, 02 Apr 1997 00:00:00 +0530 Wed, 05 Oct 2011 19:03:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90379 CEGAT held that the extended period for reversal of Modvat credit on inputs not covered by the Rule 57G declaration was unavailable because the department already knew, from its own correspondence and RT-12 returns, that credit had been taken on MS plates, pipes, channels and similar items; without suppression, the limitation plea failed and the demand was unsustainable. It also held that penalty could not be imposed where the show cause notice did not propose any penal action, since a notice must specifically alert the assessee to the proposed consequence. The demand and penalty were therefore set aside, giving complete relief to the assessee. Case-Laws Central Excise Wed, 02 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90379