2003 (10) TMI 334 - AT - Central Excise

Summary

The appeal was about whether interest under Rule 57U(5) of the Central Excise Rules should be levied for taking an ineligible Modvat credit. The tribunal found that since the appellant reversed the amounts before the Show Cause Notice was issued and without using them, the interest amount was determined to be zero. The appeal was allowed, and the interest amounting to Rs. 4,18,156/- was not levied.