2005 (2) TMI 363

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..... ndents herein manufacture various types of castings and avail small scale exemption. On crossing the exemption limit, they were paying duty and availing Modvat. At the end of the financial year ending 31-3-1995, they were required to reverse the credit on goods lying in stock and inputs contained in the finished product lying in stock when they opted SSI exemption. For the periods ending 31-3-1996 .....

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..... :- "It is seen that the Department has picked up the figures of raw material in stock from the balance sheet. If these details are emerging in the balance sheet, which is a document open to public, then there cannot be any suppression of facts with intent to evade duty. The demand is clearly time-barred." Hence this appeal by the Revenue. 2. We have heard both sides. 3. We find that in the case .....

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