https://www.taxtmi.com/caselaws?id=95325 Wrongful availment of Modvat credit was treated as sufficient to attract penalty, and the penalty of Rs. 2,000 was sustained. Interest under Rule 57-I(3) was held not recoverable where the assessee paid the amount determined within three months of receipt of the demand notice; the relevant period was computed from receipt of the adjudication order or demand notice, not from the show cause notice. On that basis, the interest demand was set aside while the penalty component remained enforceable. en-us Thu, 14 Dec 2000 00:00:00 +0530 Sat, 10 Dec 2011 12:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95325 Wrongful availment of Modvat credit was treated as sufficient to attract penalty, and the penalty of Rs. 2,000 was sustained. Interest under Rule 57-I(3) was held not recoverable where the assessee paid the amount determined within three months of receipt of the demand notice; the relevant period was computed from receipt of the adjudication order or demand notice, not from the show cause notice. On that basis, the interest demand was set aside while the penalty component remained enforceable. Case-Laws Central Excise Thu, 14 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95325