Reversal of CENVAT Credit Due to Reclassification of Goods Involving Suppression of Facts and Misstatement; Extended Limitation Period Invoked.

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....Reversal of CENVAT Credit - Re-classification of goods - classification has been changed only to ensure that they are in a position to take higher credit and pay lower duty. - there is clear cut suppression of fact and wilful misstatement - in view of the fact and circumstances, extended period of limitation has been correctly invoked. - AT....