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2009 (8) TMI 184

..... t in respect of some earlier confirmed demand. – interest was confirmed on ground that cash payment required and credit not utilizable - in terms of the law declared by the Larger Bench in the case of Noble Drugs Limited v. CCE, Nasik, no interest is required to be paid where duties actually paid from the Modvat credit account instead of paying in cash. – order of Commissioner (Appeals) holding in .....

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..... R, for the Respondent. [Order]. - After dispensing with the condition of pre-deposit of dues, I proceed to decide the appeal itself. 2. As per facts on records, appellants have preferred a rebate claim of Rs. 3,59,856/- on 21-4-2006 in respect of the goods exported by them. The said rebate claim was sanctioned by the Assistant Commissioner but adjusted against an outstanding amount of Rs. 6,85,075 .....

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..... observed that interest is to be recovered from the assessee on the delayed demand at a prescribed rates, under Section 11AB of the Act. The said two orders were challenged by the appellants before Commissioner (Appeals), who vide their order dated 21-2-2005, rejected the appeals. There after no appeal was filed by the appellants against the said order of Commissioner (Appeals). 5. According to th .....

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..... lower authorities are held to be final order, the same are only to the effect that interest in terms of Section 11AB is to be confirmed. As per the law declared by the Larger Bench the interest in terms of the said Section would be Nil. As such, no interest liability stands arisen against the appellants, in which case the adjustment of the sanctioned rebate claim was not justified. 6. There is no .....

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..... Bench judgment of the Tribunal, it transpires that no interest is required to be confirmed in terms of Section 11AB. Inasmuch as even the earlier orders were for confirmation of interest in terms of Section 11AB, which is found to be Nil in terms of the Larger Bench judgment, it can safely be concluded that the interest required to be paid would be Nil. In such a case, the rebate claim sanctioned .....

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