Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2014 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (12) TMI 314 - AT - Central ExciseExtended period of limitation - cenvat credit - Clearances of the exempted goods - Non maintenance of separate accounts - benefit of duty exemption Notification No. 64/95-CE dated 16/03/1995 - Imposition of interest and penalty - Held that:- In their monthly returns filed, the appellant had indicated that they were availing the benefit of Notification No. 64/95-CE in respect of petroleum products supplied to Indian Navy and they were also discharging duty liability @ 8% of the value of exempted goods. In other words, in the statutory returns filed by the appellant, the fact of payment of an amount @ 8% was clearly declared. In these circumstances, it cannot be alleged that there was suppression on the part of the appellant. Therefore, the show-cause notice could not have been issued invoking the extended period of time and consequently the demand would get time barred. Hence, the question of recovery of any interest thereon or imposing of any penalties would not arise - Decided in favour of assessee.
|