TMI Blog2022 (11) TMI 794X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 2010, on 01.08.2007, even before the issuance of show cause notice. Reliance can be placed in the case of COMMISSIONER OF CENTRAL EXCISE, CHENNAI-II VERSUS ICMC CORPORATION LTD. [ 2014 (1) TMI 1646 - MADRAS HIGH COURT] where it was held that Considering the fact that the assessee had reversed the credit even prior to the amendment and the order of the Tribunal is in fact no different from what is contemplated under the Finance Act, 2010, we do not find anything survives further for this Court to consider the merits of the case pleaded by the Revenue. There is no manifest error in the final order passed by the Tribunal and the substantial question of law raised in this appeal is answered accordingly. - C.M.A.(MD)No.1328 of 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enefit under Section 73 of the Finance Act 2010 without paying 24% interest per annum from the due date as contemplated under Section 73(2) of the Finance Act, 2010 and as mentioned in the proviso to Rule 6(7) of the CENVAT Credit Rules 2004? 5.Heard Mr.N.Dilipkumar, learned counsel appearing for the appellant and M/s.S.Vishnupriya, learned counsel appearing for the respondent. 6.The learned Standing Counsel appearing on behalf of the appellant brought to the notice of this Court the amendment that was made to the Finance Act 2010 in and by which, the amount of interest that has to be paid by the manufacturer was fixed at 24% from the due date till the date of payment and what was paid as interest by the appellant was only 13% and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se notice. The only issue to be considered is as to whether the subsequent amendment that was brought into force in the year 2010 and was given retrospective effect, can be put against the assessee. The judgment cited by the learned counsel for the respondent squarely covers this issue. 11. For better appreciation, the relevant portions of the judgments referred to supra are extracted hereunder: (a)In Commissioner of Central Excise, Chennai-II-vs-ICMC Corporation Ltd., reported in 2015(315)E.L.T.388(Mad.), it is held as follows: As per Section 73 sub-section (2) of the Finance Act, 2010 the assessee has to make as application to the Commissioner of Central Excise along with documentary evidence and a Certificate from the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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