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2006 (10) TMI 63 - HC - Central Excise
Interest on Cenvat/Modvat credit Assessee claimed for modvat credit and it also credited the amount in RG-23A Part-II but not utilised it Held assessee not liable to pay interest
The High Court dismissed the appeal by the revenue regarding the recovery of interest on wrongly availed Modvat credit by an assessee in 1998. The Tribunal ruled that the assessee did not actually avail of the credit but only made an entry in the Modvat record, therefore interest was not payable. No substantial question of law was found to arise.
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