https://www.taxtmi.com/circulars?id=7531 When the factual elements warranting invocation of the extended limitation period are established, those same findings necessitate imposition of an equal penalty; the statutory wording does not allow a reduced penalty except where a specific proviso provides, and the penalty operates as a deterrent standard rather than a mere maximum ceiling subject to adjudicatory discretion. en-us Fri, 24 Aug 2007 00:00:00 +0530 Tue, 15 Sep 2009 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7531 When the factual elements warranting invocation of the extended limitation period are established, those same findings necessitate imposition of an equal penalty; the statutory wording does not allow a reduced penalty except where a specific proviso provides, and the penalty operates as a deterrent standard rather than a mere maximum ceiling subject to adjudicatory discretion. Circulars Central Excise Fri, 24 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7531