https://www.taxtmi.com/caselaws?id=96143 Modvat credit taken on the strength of a Customs certificate and disclosed in the prescribed registers and RT-12 returns could not justify the extended period of limitation absent deliberate suppression. Because the goods had suffered basic duty and countervailing duty and the credit was reflected in statutory records, the demand for reversal of credit and the penalty were unsustainable. The article concludes that the impugned demand and penalty were set aside, with consequential relief to the assessee. en-us Mon, 23 Apr 2001 00:00:00 +0530 Sat, 17 Dec 2011 15:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96143 Modvat credit taken on the strength of a Customs certificate and disclosed in the prescribed registers and RT-12 returns could not justify the extended period of limitation absent deliberate suppression. Because the goods had suffered basic duty and countervailing duty and the credit was reflected in statutory records, the demand for reversal of credit and the penalty were unsustainable. The article concludes that the impugned demand and penalty were set aside, with consequential relief to the assessee. Case-Laws Central Excise Mon, 23 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96143