https://www.taxtmi.com/caselaws?id=348730 Disclosure of palm stearin clearances in monthly returns, together with a bona fide belief that the product fell under Chapter 15 and qualified for exemption under Notification No. 03/2006-CE, meant the ingredients for invoking the extended period were not established. The audit arose from scrutiny of the recorded clearances, and Tribunal decisions at the relevant time had supported the assessee's classification view, with the contrary position settled only later by the Supreme Court. On that footing, misstatement or suppression with intent to evade duty was not made out, so the demand, interest and penalties failed on limitation. en-us Fri, 08 Sep 2017 00:00:00 +0530 Fri, 27 Oct 2017 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348730 Disclosure of palm stearin clearances in monthly returns, together with a bona fide belief that the product fell under Chapter 15 and qualified for exemption under Notification No. 03/2006-CE, meant the ingredients for invoking the extended period were not established. The audit arose from scrutiny of the recorded clearances, and Tribunal decisions at the relevant time had supported the assessee's classification view, with the contrary position settled only later by the Supreme Court. On that footing, misstatement or suppression with intent to evade duty was not made out, so the demand, interest and penalties failed on limitation. Case-Laws Central Excise Fri, 08 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348730