https://www.taxtmi.com/caselaws?id=52406 The extended limitation period under the Central Excise Act was held inapplicable where the short-levy arose from a valuation error discovered and corrected by the assessee itself, with differential duty paid before departmental action. On the facts, there was no basis to invoke suppression, misstatement, fraud or intent to evade duty under the proviso to Section 11A, and the record did not support a claim that audit had revealed the lapse. The Tribunal also noted that Rule 8 of the Central Excise Valuation Rules did not apply because the goods were not captively consumed in the relevant sense. Penalty and interest were therefore unsustainable. en-us Wed, 31 Dec 2003 00:00:00 +0530 Tue, 05 Oct 2010 16:38:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52406 The extended limitation period under the Central Excise Act was held inapplicable where the short-levy arose from a valuation error discovered and corrected by the assessee itself, with differential duty paid before departmental action. On the facts, there was no basis to invoke suppression, misstatement, fraud or intent to evade duty under the proviso to Section 11A, and the record did not support a claim that audit had revealed the lapse. The Tribunal also noted that Rule 8 of the Central Excise Valuation Rules did not apply because the goods were not captively consumed in the relevant sense. Penalty and interest were therefore unsustainable. Case-Laws Central Excise Wed, 31 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52406