https://www.taxtmi.com/caselaws?id=94386 Prompt reversal of disputed proforma credit, coupled with the department's prior awareness of the transactions through assessed returns, meant that no surviving demand was made out on the facts. The Tribunal accepted the assessee's bona fide conduct and treated the balance credit as having lapsed, holding that the record did not show serious evasion justifying penalty or confiscation of land, building, plant and machinery. The demand was not sustained and the penal consequences were found unwarranted, with relief granted to the assessee. en-us Tue, 22 Dec 1998 00:00:00 +0530 Tue, 22 Nov 2011 11:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94386 Prompt reversal of disputed proforma credit, coupled with the department's prior awareness of the transactions through assessed returns, meant that no surviving demand was made out on the facts. The Tribunal accepted the assessee's bona fide conduct and treated the balance credit as having lapsed, holding that the record did not show serious evasion justifying penalty or confiscation of land, building, plant and machinery. The demand was not sustained and the penal consequences were found unwarranted, with relief granted to the assessee. Case-Laws Central Excise Tue, 22 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94386