https://www.taxtmi.com/caselaws?id=114399 Captively consumed polystyrene sheets were treated as includible in the aggregate value of clearances because the exemption applied only to goods exempt from duty or chargeable at nil rate; the intermediate clearances therefore remained part of the computation, and the Modvat credit plea did not alter the duty position on merits. The demand was nevertheless held time-barred because the assessee had repeatedly disclosed the manufacturing process, the intermediate emergence of sheets, and the duty position to the Department, leaving no suppression of material facts or basis for the extended period or penalty. en-us Fri, 27 Aug 2004 00:00:00 +0530 Tue, 15 May 2012 13:16:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114399 Captively consumed polystyrene sheets were treated as includible in the aggregate value of clearances because the exemption applied only to goods exempt from duty or chargeable at nil rate; the intermediate clearances therefore remained part of the computation, and the Modvat credit plea did not alter the duty position on merits. The demand was nevertheless held time-barred because the assessee had repeatedly disclosed the manufacturing process, the intermediate emergence of sheets, and the duty position to the Department, leaving no suppression of material facts or basis for the extended period or penalty. Case-Laws Central Excise Fri, 27 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114399