https://www.taxtmi.com/caselaws?id=51910 Amounts collected from buyers as sales tax, though not actually payable on the second sale and not remitted to the tax department, were treated as extra realisation forming part of the assessable value and not as a deductible tax component. The fact that input-stage tax had been paid by another seller did not create any deduction entitlement. On limitation, non-disclosure of the collection and retention of the amount, without informing the revenue, amounted to suppression and misstatement with intent to evade duty, so the extended period was available. Penalty was upheld in principle, but its quantum was reduced. en-us Fri, 11 Apr 2003 00:00:00 +0530 Wed, 29 Sep 2010 11:54:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51910 Amounts collected from buyers as sales tax, though not actually payable on the second sale and not remitted to the tax department, were treated as extra realisation forming part of the assessable value and not as a deductible tax component. The fact that input-stage tax had been paid by another seller did not create any deduction entitlement. On limitation, non-disclosure of the collection and retention of the amount, without informing the revenue, amounted to suppression and misstatement with intent to evade duty, so the extended period was available. Penalty was upheld in principle, but its quantum was reduced. Case-Laws Central Excise Fri, 11 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51910