https://www.taxtmi.com/caselaws?id=99260 Voluntary pre-show-cause discharge of excise duty by cash deposit and reversal of eligible Modvat credit was treated as payment towards duty on the billets, because the inputs had been used in manufacture and the credit reversal corresponded to the duty liability accepted. The limitation plea failed since the pre-notice payment and acceptance of liability did not bar invocation of the extended period where suppression was not established. Penalty under Rule 173Q was upheld because the assessee had not filed the required exemption declaration, maintained statutory records, or issued invoices for captive-consumption clearances. en-us Mon, 06 Nov 2000 00:00:00 +0530 Wed, 25 Jan 2012 17:23:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99260 Voluntary pre-show-cause discharge of excise duty by cash deposit and reversal of eligible Modvat credit was treated as payment towards duty on the billets, because the inputs had been used in manufacture and the credit reversal corresponded to the duty liability accepted. The limitation plea failed since the pre-notice payment and acceptance of liability did not bar invocation of the extended period where suppression was not established. Penalty under Rule 173Q was upheld because the assessee had not filed the required exemption declaration, maintained statutory records, or issued invoices for captive-consumption clearances. Case-Laws Central Excise Mon, 06 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99260