https://www.taxtmi.com/caselaws?id=119864 Credit attributable to molasses used in the manufacture of exempted ENA had to be reversed in full, because the governing rule required reversal of input credit linked to the exempt final product and intermediate loss at the rectified spirit stage did not reduce that obligation. The limitation defence failed since the non-reversal practice and processing loss were not disclosed to the department, so suppression could not be denied. Penalty, however, was waived on the factual circumstances and the liability to pay interest, leaving the substantive reversal demand intact while granting relief only on penalty. en-us Thu, 11 Aug 2005 00:00:00 +0530 Fri, 13 Jul 2012 16:49:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119864 Credit attributable to molasses used in the manufacture of exempted ENA had to be reversed in full, because the governing rule required reversal of input credit linked to the exempt final product and intermediate loss at the rectified spirit stage did not reduce that obligation. The limitation defence failed since the non-reversal practice and processing loss were not disclosed to the department, so suppression could not be denied. Penalty, however, was waived on the factual circumstances and the liability to pay interest, leaving the substantive reversal demand intact while granting relief only on penalty. Case-Laws Central Excise Thu, 11 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119864