2001 (5) TMI 282 - AT - Central Excise

Summary

The appeal was against the demand for duty and penalty imposed on Asia Polytex (India) Limited by the Commissioner of Central Excise, Surat. The appellant contended that they were genuinely under the belief of entitlement to duty exemption. The Tribunal accepted the appellant's contention that they were not aware that the yarn had been imported without duty payment, thus the benefit of notification was valid. The extended period for demand was found to be barred by limitation. Appeal allowed, impugned order set aside.