https://www.taxtmi.com/caselaws?id=112208 A settlement order under customs law was revised after verified computational errors in the show cause notices and earlier order were accepted, resulting in a downward recomputation of duty after crediting amounts already paid. Statutory interest under section 127C(10) of the Customs Act was treated as prospective only, because the earlier order was under writ challenge and had not attained finality. Penalty was reduced to reflect the revised duty liability. Modvat credit on additional customs duty for imported inputs was allowed only for the periods found admissible under Rule 57E(3), subject to verification and statutory utilisation, while offset against the customs demand itself was rejected. en-us Fri, 09 Jul 2004 00:00:00 +0530 Fri, 27 Apr 2012 11:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112208 A settlement order under customs law was revised after verified computational errors in the show cause notices and earlier order were accepted, resulting in a downward recomputation of duty after crediting amounts already paid. Statutory interest under section 127C(10) of the Customs Act was treated as prospective only, because the earlier order was under writ challenge and had not attained finality. Penalty was reduced to reflect the revised duty liability. Modvat credit on additional customs duty for imported inputs was allowed only for the periods found admissible under Rule 57E(3), subject to verification and statutory utilisation, while offset against the customs demand itself was rejected. Case-Laws Central Excise Fri, 09 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112208