https://www.taxtmi.com/caselaws?id=102068 The Tribunal upheld the duty demand but set aside the penalty imposed on the appellants. The demand for duty from March 1997 to December 1998 was deemed not time-barred due to suppression of facts by the appellants. The penalty imposition before quantifying Modvat credit was found unjustified, and it was directed that the penalty should be reconsidered after determining the Modvat benefit to align with the revised duty amount. The Tribunal emphasized the importance of accurate disclosure to the excise department and ordered a reassessment based on the Modvat allowance. en-us Wed, 17 Apr 2002 00:00:00 +0530 Mon, 13 Feb 2012 16:11:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102068 The Tribunal upheld the duty demand but set aside the penalty imposed on the appellants. The demand for duty from March 1997 to December 1998 was deemed not time-barred due to suppression of facts by the appellants. The penalty imposition before quantifying Modvat credit was found unjustified, and it was directed that the penalty should be reconsidered after determining the Modvat benefit to align with the revised duty amount. The Tribunal emphasized the importance of accurate disclosure to the excise department and ordered a reassessment based on the Modvat allowance. Case-Laws Central Excise Wed, 17 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102068