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2016 (4) TMI 324 - AT - Central ExciseRefund claim - Manufacture of black and white T.V. Picture Tubes of various sizes - Availed credit of duty paid on various inputs used in the manufacture of these picture tubes - Submission of statements showing daily balance of RG 23 A part II for the period 01.08.1995 to 01.03.1997 where the amount of modvat credit available was never below ₹ 227.20 Lacs - Held that:- the appellant has made out a case for refund of the amount paid by them in cash through PLA debit and taken re-credit immediately during the pendency of first round of adjudication. It is also established that they had all along modvat credit balance much higher than ₹ 227.20 Lakhs, when both the credit registers were taken together as such it is found that they are eligible for the consequential relief of refund of this amount. The appellant also prayed for refund of the said amount with interest. It is found that provision to pay interest has been introduced in the law only from 26.05.1995 vide Section 11BB of the Central Excise Act, 1944. Therefore, interest entitlement will be due from three months after the introduction of the provisions for payment of interest in the Act. - Decided in favour of appellant with consequential relief
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