https://www.taxtmi.com/caselaws?id=218466 The HC upheld the CESTAT's decision, confirming the deletion of the penalty of Rs. 67,42,153 against the appellant. The court agreed with the tribunal's finding that the rejected inputs were not liable for duty payment as they were not transformed into a new product. Additionally, the HC concurred that there was no suppression of facts since statutory returns were consistently filed, and the demand was time-barred as it exceeded the 12-month limitation period. Consequently, the tax appeal and the cross-objection were dismissed, affirming the tribunal's ruling. en-us Fri, 20 Jul 2012 00:00:00 +0530 Mon, 30 Oct 2023 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218466 The HC upheld the CESTAT's decision, confirming the deletion of the penalty of Rs. 67,42,153 against the appellant. The court agreed with the tribunal's finding that the rejected inputs were not liable for duty payment as they were not transformed into a new product. Additionally, the HC concurred that there was no suppression of facts since statutory returns were consistently filed, and the demand was time-barred as it exceeded the 12-month limitation period. Consequently, the tax appeal and the cross-objection were dismissed, affirming the tribunal's ruling. Case-Laws Central Excise Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218466