https://www.taxtmi.com/caselaws?id=93143 Modvat credit on duty-paid inputs used to repair defective transformers cleared without duty could not be retained where statutory records did not disclose input consumption or credit availed. The unsupported assertion that assessable value included warranty and repair costs did not establish that credit reversal was unnecessary, so the duty demand was sustained on merits. Blank register entries and inadequate disclosure of duty-free clearances constituted suppression of material facts with intent to evade duty, permitting the extended limitation period. Earlier notices for other periods did not change that conclusion. Duty and penalty were sustained, and the appeal failed. en-us Mon, 14 Jun 1999 00:00:00 +0530 Tue, 08 Nov 2011 15:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93143 Modvat credit on duty-paid inputs used to repair defective transformers cleared without duty could not be retained where statutory records did not disclose input consumption or credit availed. The unsupported assertion that assessable value included warranty and repair costs did not establish that credit reversal was unnecessary, so the duty demand was sustained on merits. Blank register entries and inadequate disclosure of duty-free clearances constituted suppression of material facts with intent to evade duty, permitting the extended limitation period. Earlier notices for other periods did not change that conclusion. Duty and penalty were sustained, and the appeal failed. Case-Laws Central Excise Mon, 14 Jun 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93143