https://www.taxtmi.com/caselaws?id=116295 Interest on wrongly availed Modvat credit did not accrue from the date of the retrospective amendment while its validity remained under challenge and interim protection was in force. The liability to pay interest arose only when the challenge to the amendment failed and the demand crystallised, namely one month after dismissal of the writ petition, continuing until payment. The retrospective amendment to Rule 57B read with Section 112 of the Finance Act, 2000 could not by itself fasten earlier interest liability during the disputed period. The demand was therefore confined to the period after the writ challenge ended, and the order was modified accordingly. en-us Fri, 13 May 2005 00:00:00 +0530 Mon, 11 Jun 2012 11:55:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116295 Interest on wrongly availed Modvat credit did not accrue from the date of the retrospective amendment while its validity remained under challenge and interim protection was in force. The liability to pay interest arose only when the challenge to the amendment failed and the demand crystallised, namely one month after dismissal of the writ petition, continuing until payment. The retrospective amendment to Rule 57B read with Section 112 of the Finance Act, 2000 could not by itself fasten earlier interest liability during the disputed period. The demand was therefore confined to the period after the writ challenge ended, and the order was modified accordingly. Case-Laws Central Excise Fri, 13 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116295