2002 (6) TMI 483 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi allowed the appeal by M/s. Shri Ambica Steel Industries regarding deemed Modvat credit under Notification No. 58/97-Central Excise. The Tribunal held that the benefit of the Notification cannot be denied for not depositing interest on delayed payment of Central Excise duty by the supplier, as long as the appropriate duty has been paid.