https://www.taxtmi.com/caselaws?id=342247 Bought-out items such as bolts, nuts and corner plates, when supplied separately for installation at the customer's site and not manufactured by the assessee, were held outside the assessable value of the manufactured storage system under section 4 of the Central Excise Act, 1944. The demand was also held time-barred because the department had prior knowledge of the trading and clearance pattern, so extended limitation could not be invoked without proof of suppression with intent to evade duty. On the same footing, the penalty under section 11AC was not sustainable. The duty demand and penalty were set aside. en-us Tue, 18 Apr 2017 00:00:00 +0530 Mon, 05 Jun 2017 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342247 Bought-out items such as bolts, nuts and corner plates, when supplied separately for installation at the customer's site and not manufactured by the assessee, were held outside the assessable value of the manufactured storage system under section 4 of the Central Excise Act, 1944. The demand was also held time-barred because the department had prior knowledge of the trading and clearance pattern, so extended limitation could not be invoked without proof of suppression with intent to evade duty. On the same footing, the penalty under section 11AC was not sustainable. The duty demand and penalty were set aside. Case-Laws Central Excise Tue, 18 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342247