https://www.taxtmi.com/caselaws?id=90463 Continuous disclosure of the relevant facts in monthly returns and RT-12 statements negatives suppression for extended limitation under Section 11A, even where Modvat credit on HDPE sacks was wrongly continued after a clear amendment to Rule 57A. The demand was therefore not sustainable on limitation. However, the continued availment of inadmissible credit after the amendment showed fault on the assessee's part, so penalty remained justified notwithstanding disclosure of the factual position. The stated ratio is that full disclosure in statutory returns protects against the extended period, but it does not prevent penalty where the assessee persists in claiming a withdrawn benefit. en-us Thu, 19 Feb 1998 00:00:00 +0530 Fri, 07 Oct 2011 15:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90463 Continuous disclosure of the relevant facts in monthly returns and RT-12 statements negatives suppression for extended limitation under Section 11A, even where Modvat credit on HDPE sacks was wrongly continued after a clear amendment to Rule 57A. The demand was therefore not sustainable on limitation. However, the continued availment of inadmissible credit after the amendment showed fault on the assessee's part, so penalty remained justified notwithstanding disclosure of the factual position. The stated ratio is that full disclosure in statutory returns protects against the extended period, but it does not prevent penalty where the assessee persists in claiming a withdrawn benefit. Case-Laws Central Excise Thu, 19 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90463