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of <h1>Revenue appeal allowed due to interest issue oversight by Commissioner (Appeals) - Remand for fresh determination.</h1> The appeal by the Revenue was allowed by way of remand as the Tribunal found that the Commissioner (Appeals) failed to address the issue of interest in ... Modvat credit refund Issues:- Denial of interest to the respondents on alleged delayed payment.Analysis:The appeal filed by the Revenue concerns the denial of interest to the respondents on an alleged delayed payment. The refund claim of the respondents stemmed from the initial denial of Modvat credit by the adjudicating authority. The respondents reversed this denial in their records but contested the decision, leading to a series of orders and appeals. The Tribunal upheld the order of the Commissioner (Appeals) in this regard. Subsequently, the respondents, instead of seeking recredit based on the Tribunal's orders, independently applied for a refund without claiming interest. They even renounced their right to claim interest in a letter. The Tribunal noted that the recredit could have been taken by the respondents without a formal refund claim, as no cash transaction was involved. While Modvat credit is akin to excise duty, no specific application is required for credit refund; only an entry reversal is necessary post a favorable order. The Commissioner (Appeals) failed to address the issue of interest in this context, leading to the decision being remanded for a fresh determination after hearing the respondents. The appeal by the Revenue was allowed by way of remand.
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