https://www.taxtmi.com/caselaws?id=53430 Extended limitation for reversal of Modvat credit could not be invoked where the inputs were cleared under invoices and the relevant transactions were already reflected in statutory returns and registers filed with the department. On those facts, there was no suppression, fraud, or wilful misstatement, so the demand could not survive beyond the normal period. The same absence of suppression also defeated the penalty. The stated result was that the duty demand and penalty were set aside, with relief granted to the assessee. en-us Tue, 19 Oct 2004 00:00:00 +0530 Wed, 13 Oct 2010 13:17:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53430 Extended limitation for reversal of Modvat credit could not be invoked where the inputs were cleared under invoices and the relevant transactions were already reflected in statutory returns and registers filed with the department. On those facts, there was no suppression, fraud, or wilful misstatement, so the demand could not survive beyond the normal period. The same absence of suppression also defeated the penalty. The stated result was that the duty demand and penalty were set aside, with relief granted to the assessee. Case-Laws Central Excise Tue, 19 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53430