https://www.taxtmi.com/caselaws?id=113938 Extended limitation for reversal of Modvat credit could not be invoked where the assessee had maintained statutory records, filed duty-related returns and disclosed the consignments to departmental officers. The material did not establish deliberate suppression, wilful misstatement or positive collusion with intent to evade duty; at most, it showed difficulty in tracing the original source of scrap after mixing at the supplier's end. The demand was therefore held time-barred, and the consequential penalties could not survive. en-us Wed, 23 Jun 2004 00:00:00 +0530 Wed, 09 May 2012 13:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113938 Extended limitation for reversal of Modvat credit could not be invoked where the assessee had maintained statutory records, filed duty-related returns and disclosed the consignments to departmental officers. The material did not establish deliberate suppression, wilful misstatement or positive collusion with intent to evade duty; at most, it showed difficulty in tracing the original source of scrap after mixing at the supplier's end. The demand was therefore held time-barred, and the consequential penalties could not survive. Case-Laws Central Excise Wed, 23 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113938