Suppression of fact cannot be alleged when demand is based on information appearing in Balance Sheet

Commissioner of Central Excise & Service Tax Vs Goyal MG Gases Private Limited (CESTAT Kolkata) We observe that the Respondent assessee has maintained all the records and recorded all the transaction in the financial statements. The said fact has not been disputed by the Department. The only contention is that financial statement alone cannot be considered as specified record containing true and complete records. However, the Department has failed to specify what are the other specified records which have not been maintained by the respondent assessee. The Department has not brought on rec...