https://www.taxtmi.com/caselaws?id=117707 Modvat credit on duty-paid inputs and capital goods was held allowable where the final products had in fact suffered duty, including clearances for domestic sale and export; credit could not be denied merely because exemption was available or could have been chosen. The extended period of limitation was also held inapplicable because the assessee had disclosed the relevant activities through declarations and monthly returns, and there was no suppression or concealment. On that basis, the demand and penalties were set aside and consequential relief followed. en-us Fri, 24 Feb 2006 00:00:00 +0530 Tue, 26 Jun 2012 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117707 Modvat credit on duty-paid inputs and capital goods was held allowable where the final products had in fact suffered duty, including clearances for domestic sale and export; credit could not be denied merely because exemption was available or could have been chosen. The extended period of limitation was also held inapplicable because the assessee had disclosed the relevant activities through declarations and monthly returns, and there was no suppression or concealment. On that basis, the demand and penalties were set aside and consequential relief followed. Case-Laws Central Excise Fri, 24 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117707