https://www.taxtmi.com/caselaws?id=366828 CENVAT credit on royalty paid for technical know-how was found to have been taken openly and reflected in monthly returns, with the department already aware of the credit during the relevant period. On those facts, the availment was treated as based on a bona fide belief that the credit was admissible for manufacture of the final products. As there was no material showing suppression of facts, misstatement, or intent to evade duty, the extended limitation period could not be invoked. The demand was therefore time-barred and the order confirming it was set aside in favour of the assessee. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366828 CENVAT credit on royalty paid for technical know-how was found to have been taken openly and reflected in monthly returns, with the department already aware of the credit during the relevant period. On those facts, the availment was treated as based on a bona fide belief that the credit was admissible for manufacture of the final products. As there was no material showing suppression of facts, misstatement, or intent to evade duty, the extended limitation period could not be invoked. The demand was therefore time-barred and the order confirming it was set aside in favour of the assessee. Case-Laws Central Excise Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366828