TaxTMI 
TaxTMI 
2006 (7) TMI 483
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....ent. ORDER 1. These two appeals are directed against the order in appeal dated 20th May 2004, one by the revenue and one by the assessee. The revenue is in appeal against the setting aside of the penalties imposed under section 11AC while the assessee is in appeal against the disallowance of Modvat credit. Since the issue has arisen from the same order in appeal, both the appeals are disposed by....
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....y and imposition of penalty under rule 173Q but set aside the penalty imposed under section 11AC and interest under section 11AB. Hence appeals by assessee and revenue. 3. The learned advocate appearing for the appellant submits that the whole show cause notice is time barred in as much that the credit was availed by the appellant in July 1995 while the show cause notice was issued on 4-8-2000. I....
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....is not time barred in as much that this issue is of suppression, misstatement and fraud hence extended period of limitation is correctly invoked. It is also submitted that the penalty under section 11AC should not have been set aside as the show cause notice was issued after the provisions of section 11AC were brought in to statute. It is his submissions that the same arguments would hold good for....
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.... To my mind even if the truck is registered for agriculture work, which in itself would not mean that that truck did not transport the inputs. Further I find that there are no findings as regards other three trucks in which the inputs were purportedly transported. In the absence of any such findings, it is leads to an inference that the other three trucks did carry inputs to the appellant's factor....