https://www.taxtmi.com/caselaws?id=110390 Excess Modvat credit reversed to comply with a Customs duty-free import Amnesty Scheme, and excess interest paid under that scheme, were treated as an accounting adjustment rather than a refund governed by Section 11B of the Central Excise Act, 1944. Because the correct amount became ascertainable only after mandatory departmental verification by the Cost Accountant, the claim was held to fall outside the statutory limitation applicable to refund claims. On that basis, the refund was maintainable and the Revenue's appeals failed. en-us Fri, 21 Nov 2003 00:00:00 +0530 Mon, 16 Apr 2012 15:43:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110390 Excess Modvat credit reversed to comply with a Customs duty-free import Amnesty Scheme, and excess interest paid under that scheme, were treated as an accounting adjustment rather than a refund governed by Section 11B of the Central Excise Act, 1944. Because the correct amount became ascertainable only after mandatory departmental verification by the Cost Accountant, the claim was held to fall outside the statutory limitation applicable to refund claims. On that basis, the refund was maintainable and the Revenue's appeals failed. Case-Laws Central Excise Fri, 21 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110390