2005 (5) TMI 606

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..... In this case CENVAT Credit of Rs. 71,820/- availed by the respondent on HSD and reversed in August, 2004, was appropriated by the adjudicating authority; the Revenue challenged the order on the ground that the Assistant Commissioner ought to have directed recovery of interest as well as imposition of penalty; the Commissioner (Appeals) rejected the appeal of the Revenue holding that penalty w .....

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..... of sub-section (1) had been in force at all material times, within a period of thirty days from the date on which the Finance Act, 2000 receives the assent of the President and in the event of non-payment of such credit of duty within this period, in addition to the amount of credit of such duty recoverable, interest at the rate of twenty-four percent per annum shall be payable from the date imme .....

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