2001 (11) TMI 734 - AT - Central Excise

Summary

The appellate tribunal in New Delhi heard three appeals related to deemed Modvat credit for iron and steel products. The appellants had not paid interest on late duty payment. The tribunal found that the notification did not require interest payment for availing Modvat credit, so disallowance was not valid. Pre-deposit was waived, and appeals were allowed based on the judgment in a similar case.