https://www.taxtmi.com/caselaws?id=100286 The extended period for excise duty demand was unavailable because the assessee acted under a bona fide belief and there was no suppression of facts, wilful misstatement, fraud or collusion. The demand was therefore time-barred, and section 110 of the Finance Act, 2000 did not cure a demand that was otherwise barred in the absence of the statutory grounds for extension. Penalty under section 11AC was also unsustainable because it could not apply to a period before the provision came into force and, in any event, the absence of suppression removed the basis for penalty. The appeal was allowed and the order was set aside. en-us Mon, 10 Sep 2001 00:00:00 +0530 Tue, 31 Jan 2012 18:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100286 The extended period for excise duty demand was unavailable because the assessee acted under a bona fide belief and there was no suppression of facts, wilful misstatement, fraud or collusion. The demand was therefore time-barred, and section 110 of the Finance Act, 2000 did not cure a demand that was otherwise barred in the absence of the statutory grounds for extension. Penalty under section 11AC was also unsustainable because it could not apply to a period before the provision came into force and, in any event, the absence of suppression removed the basis for penalty. The appeal was allowed and the order was set aside. Case-Laws Central Excise Mon, 10 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100286