https://www.taxtmi.com/caselaws?id=90818 Modvat credit reversal demand was held time-barred under Rule 57-I because the inputs had been disclosed in the Modvat declaration, the RT-12 returns had been finalised, and departmental audits had raised no objection. Since the relevant facts were already within departmental knowledge and the duty-paid nature and use of the inputs were not disputed, invocation of the extended limitation period was not justified. The demand and related penalties were therefore set aside, and the assessee obtained consequential relief. en-us Thu, 10 Dec 1998 00:00:00 +0530 Tue, 11 Oct 2011 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90818 Modvat credit reversal demand was held time-barred under Rule 57-I because the inputs had been disclosed in the Modvat declaration, the RT-12 returns had been finalised, and departmental audits had raised no objection. Since the relevant facts were already within departmental knowledge and the duty-paid nature and use of the inputs were not disputed, invocation of the extended limitation period was not justified. The demand and related penalties were therefore set aside, and the assessee obtained consequential relief. Case-Laws Central Excise Thu, 10 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90818