https://www.taxtmi.com/caselaws?id=253970 Extended limitation could not be invoked where the assessee's statutory returns disclosed clearance under Notification No. 64/95-CE and payment of 8% on exempted goods, so suppression was not made out and the demand was time-barred. Because the demand failed on limitation, the consequential interest and penalty also could not survive. However, the underlying liability to reverse Cenvat credit attributable to inputs used in exempted goods remained in law, and limitation did not extinguish it. Amounts voluntarily paid by the assessee could therefore be appropriated against that liability, and that adjustment was sustained. en-us Fri, 14 Mar 2014 00:00:00 +0530 Tue, 09 Dec 2014 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253970 Extended limitation could not be invoked where the assessee's statutory returns disclosed clearance under Notification No. 64/95-CE and payment of 8% on exempted goods, so suppression was not made out and the demand was time-barred. Because the demand failed on limitation, the consequential interest and penalty also could not survive. However, the underlying liability to reverse Cenvat credit attributable to inputs used in exempted goods remained in law, and limitation did not extinguish it. Amounts voluntarily paid by the assessee could therefore be appropriated against that liability, and that adjustment was sustained. Case-Laws Central Excise Fri, 14 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253970