https://www.taxtmi.com/caselaws?id=113466 Reversal of Modvat credit made long before an export amnesty scheme under Notification No. 203/92-Cus. could not be treated as a basis to compel interest or further liability, especially where the last reversal had occurred well before the scheme and no timely objection or demand was raised. The tribunal noted that any additional amount, if otherwise payable, had to be demanded within the normal limitation period. An amnesty scheme was meant for voluntary compliance by eligible offenders and could not be enforced against an assessee who had already reversed the credit before the scheme came into existence. The demand for interest was therefore unsustainable. en-us Fri, 07 May 2004 00:00:00 +0530 Sat, 05 May 2012 14:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113466 Reversal of Modvat credit made long before an export amnesty scheme under Notification No. 203/92-Cus. could not be treated as a basis to compel interest or further liability, especially where the last reversal had occurred well before the scheme and no timely objection or demand was raised. The tribunal noted that any additional amount, if otherwise payable, had to be demanded within the normal limitation period. An amnesty scheme was meant for voluntary compliance by eligible offenders and could not be enforced against an assessee who had already reversed the credit before the scheme came into existence. The demand for interest was therefore unsustainable. Case-Laws Central Excise Fri, 07 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113466