https://www.taxtmi.com/caselaws?id=328068 CENVAT credit of NCCD on inputs received from units under area-based exemption was held inadmissible because the special credit dispensation in the CENVAT Credit Rules controlled availability of credit and Notification No. 27/2001-CE was not specifically covered. The general credit rule could not override that exclusion, so only credit not hit by the rules remained allowable. The extended limitation period was rejected because the assessee had disclosed the credit in returns and furnished supplier details and invoices, so suppression or wilful misstatement was not established. Penalty was also set aside because the dispute turned on legal interpretation and no deliberate contravention was shown. en-us Fri, 29 Apr 2016 00:00:00 +0530 Wed, 04 Jan 2017 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328068 CENVAT credit of NCCD on inputs received from units under area-based exemption was held inadmissible because the special credit dispensation in the CENVAT Credit Rules controlled availability of credit and Notification No. 27/2001-CE was not specifically covered. The general credit rule could not override that exclusion, so only credit not hit by the rules remained allowable. The extended limitation period was rejected because the assessee had disclosed the credit in returns and furnished supplier details and invoices, so suppression or wilful misstatement was not established. Penalty was also set aside because the dispute turned on legal interpretation and no deliberate contravention was shown. Case-Laws Central Excise Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328068