2014 (1) TMI 1871 - SCH - Central Excise

Whether the investment made by the assessee are in terms of the notifications 32/99-CE, 33/99-CE, 8/2004 and 28/2004 r/w Section 72 of the Finance Act, 2011?- HELD THAT - There is no reason to interfere with the impugned order - The Investment Appraisal Committee shall conclude its work within three months from today and shall give its findings. If the findings of the Investment Appraisal Committee are against the concerned units, which have been given the incentive, the amount of incentive so given shall be recovered within six months thereafter in accordance with law - SLP disposed off.

Summary

The Supreme Court of India in 2014 (1) TMI 1871 - SC Order upheld the impugned order regarding Investment Appraisal Committee's findings. The Committee must conclude its work within three months, and if findings are against units given incentives, the amount must be recovered within six months. States of Assam and Tripura will cooperate with the Committee. Special Leave Petitions are disposed of with these directions.