https://www.taxtmi.com/caselaws?id=124502 Non-disclosure of losses of excisable goods in statutory records constituted suppression of facts where the assessee did not inform the Department during the relevant period. The later reversal of credit did not cure the earlier failure to disclose the losses. On that basis, the extended period of limitation was attracted and the statutory consequences followed, making interest under Section 11AB and penalty under Section 11AC leviable. The order denying such consequences was therefore incorrect, and the revenue's position was restored. en-us Tue, 25 Nov 2008 00:00:00 +0530 Mon, 01 Oct 2012 11:42:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124502 Non-disclosure of losses of excisable goods in statutory records constituted suppression of facts where the assessee did not inform the Department during the relevant period. The later reversal of credit did not cure the earlier failure to disclose the losses. On that basis, the extended period of limitation was attracted and the statutory consequences followed, making interest under Section 11AB and penalty under Section 11AC leviable. The order denying such consequences was therefore incorrect, and the revenue's position was restored. Case-Laws Central Excise Tue, 25 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124502