https://www.taxtmi.com/caselaws?id=119846 Modvat credit kept frozen and unutilized, and reversed before adjudication, did not attract interest because Rule 57-I(3) required non-payment of the determined amount after notice of demand, a condition not met on the facts. Penalty was also unsustainable because the notices did not allege or prove fraud, wilful misstatement, collusion, suppression of facts, or intent to evade duty, which were necessary for the extended penal provisions under Rule 57-I(4) and Rule 57-I(5). The appellate order setting aside interest and penalty was affirmed. en-us Tue, 25 Jul 2006 00:00:00 +0530 Fri, 13 Jul 2012 15:31:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119846 Modvat credit kept frozen and unutilized, and reversed before adjudication, did not attract interest because Rule 57-I(3) required non-payment of the determined amount after notice of demand, a condition not met on the facts. Penalty was also unsustainable because the notices did not allege or prove fraud, wilful misstatement, collusion, suppression of facts, or intent to evade duty, which were necessary for the extended penal provisions under Rule 57-I(4) and Rule 57-I(5). The appellate order setting aside interest and penalty was affirmed. Case-Laws Central Excise Tue, 25 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119846