https://www.taxtmi.com/caselaws?id=253179 Penalty and interest in a classification dispute depend on the statutory elements of fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty; where the assessee accepted the Department's classification and paid duty, those conditions were treated as satisfied and the fiscal consequences followed. Modvat credit for the relevant period was unavailable because the assessee was not registered during that time, and credit could arise only on compliance with the statutory registration requirements; the notification relied on did not extend credit to the unregistered period. en-us Thu, 09 Jan 2014 00:00:00 +0530 Sat, 22 Nov 2014 20:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253179 Penalty and interest in a classification dispute depend on the statutory elements of fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty; where the assessee accepted the Department's classification and paid duty, those conditions were treated as satisfied and the fiscal consequences followed. Modvat credit for the relevant period was unavailable because the assessee was not registered during that time, and credit could arise only on compliance with the statutory registration requirements; the notification relied on did not extend credit to the unregistered period. Case-Laws Central Excise Thu, 09 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253179