https://www.taxtmi.com/caselaws?id=120412 The manufacturing company filed a settlement application regarding the wrong availment of Cenvat credit and non-amortization of the cost of moulds and dyes. The applicant admitted the charges, paid the entire duty amount, and sought relief from interest and penalty. The Bench ordered the applicant to pay simple interest at 10% per annum but granted immunity from interest exceeding 10% due to cooperation. The settlement was granted under Section 32K(1) of the Central Excise Act, settling the duty liability at Rs. 2,33,404, with no further payment required as the amount was already paid. Immunity from penalty was also granted, subject to conditions. en-us Fri, 05 May 2006 00:00:00 +0530 Thu, 19 Jul 2012 11:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120412 The manufacturing company filed a settlement application regarding the wrong availment of Cenvat credit and non-amortization of the cost of moulds and dyes. The applicant admitted the charges, paid the entire duty amount, and sought relief from interest and penalty. The Bench ordered the applicant to pay simple interest at 10% per annum but granted immunity from interest exceeding 10% due to cooperation. The settlement was granted under Section 32K(1) of the Central Excise Act, settling the duty liability at Rs. 2,33,404, with no further payment required as the amount was already paid. Immunity from penalty was also granted, subject to conditions. Case-Laws Central Excise Fri, 05 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120412