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2023 (7) TMI 426 - AT - Central Excise100% EOU - inclusion of CIF value - contravention of conditions of Notification No.2/95 dt. 04.01.1995 read with EXIM Policy 1997-2002 in as much as they had furnished incorrect details to MEPZ and obtained approval for clearance of goods to DTA sales - value of goods procured indigenously need to be included in the assessable value or not - time limitation - HELD THAT:- The Hon’ble Supreme Court in the case of COSMIC DYE CHEMICAL VERSUS COLLECTOR OF CENTRAL EXCISE, BOMBAY [1994 (9) TMI 86 - SUPREME COURT] held that the word suppression of facts is qualified by the word ‘wilfull’ and therefore there should be intent to evade payment of duty. In the case of M/S CONTINENTAL FOUNDATION JOINT VENTURE SHOLDING, NATHPA HP VERSUS COMMISSIONER OF CENTRAL EXCISE, CHANDIGARH-I [2007 (8) TMI 11 - SUPREME COURT], it was held that mere omission to give correct information is not suppression of facts unless it was deliberate to stop payment of duty. After appreciating the facts and applying the above Apex Court decisions, the demand is time barred. The demand raised invoking the extended period cannot sustain and requires to be set aside - Appeal is allowed on the ground of limitation.
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