https://www.taxtmi.com/caselaws?id=121605 Interest could not be fastened on reversal and re-credit of Modvat entries in RG 23C Part II without first determining the legal character of the debit and credit entries. CESTAT noted that such accounting entries are not automatically equivalent to duty for interest purposes under the Central Excise Act, and that the lower appellate authority had not examined this point. The matter was therefore remanded to the Commissioner (Appeals) for fresh adjudication after hearing both sides and deciding whether any interest liability arose, and if so, for what period. en-us Wed, 16 May 2007 00:00:00 +0530 Tue, 31 Jul 2012 18:34:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121605 Interest could not be fastened on reversal and re-credit of Modvat entries in RG 23C Part II without first determining the legal character of the debit and credit entries. CESTAT noted that such accounting entries are not automatically equivalent to duty for interest purposes under the Central Excise Act, and that the lower appellate authority had not examined this point. The matter was therefore remanded to the Commissioner (Appeals) for fresh adjudication after hearing both sides and deciding whether any interest liability arose, and if so, for what period. Case-Laws Central Excise Wed, 16 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121605