https://www.taxtmi.com/caselaws?id=99786 Modvat credit on capital goods supplied by RIL and retained in its ownership was held inadmissible under Rule 57Q read with Rule 57R(3) of the Central Excise Rules, 1944, because the goods were not acquired in the form required by the rule and credit could not be taken by a person other than the owner who bore the duty incidence. The extended period of limitation was held unsustainable because the record showed departmental knowledge of the arrangement, and extended time under the proviso to Section 11A(1) requires deliberate and conscious suppression, not a bona fide dispute or mere omission. The demand was therefore barred by limitation, even though the credit was disallowed on merits. en-us Tue, 31 Jul 2001 00:00:00 +0530 Mon, 30 Jan 2012 11:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99786 Modvat credit on capital goods supplied by RIL and retained in its ownership was held inadmissible under Rule 57Q read with Rule 57R(3) of the Central Excise Rules, 1944, because the goods were not acquired in the form required by the rule and credit could not be taken by a person other than the owner who bore the duty incidence. The extended period of limitation was held unsustainable because the record showed departmental knowledge of the arrangement, and extended time under the proviso to Section 11A(1) requires deliberate and conscious suppression, not a bona fide dispute or mere omission. The demand was therefore barred by limitation, even though the credit was disallowed on merits. Case-Laws Central Excise Tue, 31 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99786