2011 (2) TMI 1010

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..... Heard both sides. 2. Appellant filed this Appeal against the impugned order whereby credit of Rs.2,92,760/-(Rupees Two Lakhs Ninety Two Thousand Seven Hundred and Sixty only) was denied and equal amount of penalty was imposed. 3. Appellants were working under the MODVAT Scheme and availed credit of duty paid in respect of capital goods and inputs during the period 1994 to 1995. A Show Cause No .....

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..... is to be issued within 6 (six) months from the last date on which the return is to be filed for disallowing the credit which has been taken on account of an error, omission or mis-construction on the part of an officer or a manufacturer. Extended period of limitation of 5 (five) years is available in the case where credit has been availed on account of willful misstatement, commission or suppressi .....

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..... Excise Rules which deals in respect of credit wrongly availed or utilized, extended period of limitation is applicable where the credit has been taken on account of willful misstatement, commission or suppression of facts. In the present case as Appellants were filing regularly the monthly returns along with duty paying documents which were duly defaced and there is no dispute in this regard henc .....

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