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TMI Blog2011 (3) TMI 512X X X X Extracts X X X X X X X X Extracts X X X X ..... paid - Though the amendment was retrospective in nature, the penalty being penal in character cannot be retrospectively imposed and therefore, the tribunal has rightly set aside the order imposing the penalty - Hence, the assessee had reversed the credit, paid the duty in respect of which wrongly modvat/cenvat credit was claimed within the time stipulated, the liability to pay the interest does not arise - Decided in favour of assessee. - 91 of 2008 - - - Dated:- 8-3-2011 - N. Kumar and Ravi Malimath, JJ. REPRESENTED BY : Shri N.R. Bhaskar, Advocate, for the Appellant. Shri K.Parameshwaran, Advocate, for the Respondent. [Judgement per : N. Kumar, J.]. This is an appeal filed by the revenue challenging the order passed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... testing the claim However, the order-in-original came to be passed on 12-3-2002 determining a sum of Rs. 92,63,374/- for the period of 1996-1997 to 2000-200l. Before the order was passed, a sum of Rs. 53,43,593/- had already been paid by the assessee and therefore, the said amount was adjusted towards the aforesaid amount and the assessee was liable to pay only the balance amount. The assessee paid the said balance amount within the time stipulated. However, they preferred an appeal against the said order to the Tribunal challenging the aforesaid order imposing the duty, interest and penalty on the ground that at the relevant point of time, there was no provision which authorised the revenue to impose the aforesaid duty, penalty and interes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. 6. Per contra, learned Counsel for the assessee submitted that even if the amended provisions are held to be retrospective, the liability to pay the interest arises only in the event of the assessee not paying the duty determined within the time stipulated in the order-in-original. In the instant case a substantial amount was paid even before the determination and the balance amount was paid after the determination within the time stipulated. Therefore there is no liability to pay interest. The amended provisions make it clear that the liability to pay interest arises only if the assessee does not pay the duty levied within the time stipulated. 7. From the material on record, it is clear that the assessee has not maintained separate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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