https://www.taxtmi.com/caselaws?id=103522 The Tribunal accepted the manufacturer's deposit offer of Rs. 25 lakhs to waive remaining duty and penalties, citing unclear basis for invoking the extended limitation period due to lack of evidence regarding the manufacturer's knowledge of the loan closure. The decision emphasized the importance of clear evidence for invoking extended periods under the Act and highlighted the significance of timely compliance and deposit in such cases. The manufacturer's awareness of the loan status led to the waiver of duty and penalties upon deposit, with the Tribunal vacating an order detaining goods for recovery of the demanded amount. en-us Mon, 14 May 2001 00:00:00 +0530 Thu, 23 Feb 2012 14:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103522 The Tribunal accepted the manufacturer's deposit offer of Rs. 25 lakhs to waive remaining duty and penalties, citing unclear basis for invoking the extended limitation period due to lack of evidence regarding the manufacturer's knowledge of the loan closure. The decision emphasized the importance of clear evidence for invoking extended periods under the Act and highlighted the significance of timely compliance and deposit in such cases. The manufacturer's awareness of the loan status led to the waiver of duty and penalties upon deposit, with the Tribunal vacating an order detaining goods for recovery of the demanded amount. Case-Laws Central Excise Mon, 14 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103522