https://www.taxtmi.com/caselaws?id=53477 SSI exemption was denied where the assessee could not maintain separate accounts or a reliable one-to-one correlation between inputs and final products, and therefore could not show compliance with the condition against taking Modvat credit on exempted clearances. The failure to keep proper records was treated as suppression, so the extended period of limitation and the connected penalties and confiscation were sustained. Duty on goods found inside the factory but not yet cleared was not leviable on the footing adopted by the department, and that demand was set aside. en-us Wed, 10 Nov 2004 00:00:00 +0530 Wed, 13 Oct 2010 15:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53477 SSI exemption was denied where the assessee could not maintain separate accounts or a reliable one-to-one correlation between inputs and final products, and therefore could not show compliance with the condition against taking Modvat credit on exempted clearances. The failure to keep proper records was treated as suppression, so the extended period of limitation and the connected penalties and confiscation were sustained. Duty on goods found inside the factory but not yet cleared was not leviable on the footing adopted by the department, and that demand was set aside. Case-Laws Central Excise Wed, 10 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53477