https://www.taxtmi.com/caselaws?id=332310 The extended limitation period could not be invoked where the assessee's treatment of retained sales tax concession was supported by a CBEC circular dated 30.06.2000 and by earlier tribunal decisions taking the same view. On that basis, the assessee could not be treated as having suppressed facts or acted wrongly, and the later contrary view of the Supreme Court on valuation did not justify reopening the matter for the longer period. The consequential penalty also failed because the foundation for invoking extended limitation was absent. en-us Tue, 09 Aug 2016 00:00:00 +0530 Fri, 17 Feb 2017 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332310 The extended limitation period could not be invoked where the assessee's treatment of retained sales tax concession was supported by a CBEC circular dated 30.06.2000 and by earlier tribunal decisions taking the same view. On that basis, the assessee could not be treated as having suppressed facts or acted wrongly, and the later contrary view of the Supreme Court on valuation did not justify reopening the matter for the longer period. The consequential penalty also failed because the foundation for invoking extended limitation was absent. Case-Laws Central Excise Tue, 09 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332310