https://www.taxtmi.com/caselaws?id=433491 A receipt described as compensation was treated as part of the consideration for auto parts sold as scrap, because the record showed it was not disclosed in ER-1 returns and the balance-sheet entry did not adequately explain its nature. On those facts, the arrangement was found to involve suppression of the true transaction value with intent to evade duty, so the extended period of limitation under the Central Excise Act was validly invoked. The same factual basis also satisfied the conditions for penalty under section 11AC(1)(c), making the penalty sustainable and the duty demand with consequential penalty upheld. en-us Mon, 30 Jan 2023 00:00:00 +0530 Wed, 01 Feb 2023 08:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433491 A receipt described as compensation was treated as part of the consideration for auto parts sold as scrap, because the record showed it was not disclosed in ER-1 returns and the balance-sheet entry did not adequately explain its nature. On those facts, the arrangement was found to involve suppression of the true transaction value with intent to evade duty, so the extended period of limitation under the Central Excise Act was validly invoked. The same factual basis also satisfied the conditions for penalty under section 11AC(1)(c), making the penalty sustainable and the duty demand with consequential penalty upheld. Case-Laws Central Excise Mon, 30 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433491