https://www.taxtmi.com/caselaws?id=264708 Interest under Section 11AA of the Central Excise Act was treated as payable on wrongly availed Modvat credit once the reversal had been confirmed and the amount was not paid within the prescribed period. The governing rules, including Rule 57I(3) and Rule 57U(8), were read as mandatory, making interest arise automatically on delayed payment of the confirmed amount. Payment only after appellate proceedings did not remove the liability. The demand for interest was therefore sustained. en-us Fri, 26 Jun 2015 00:00:00 +0530 Thu, 03 Sep 2015 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264708 Interest under Section 11AA of the Central Excise Act was treated as payable on wrongly availed Modvat credit once the reversal had been confirmed and the amount was not paid within the prescribed period. The governing rules, including Rule 57I(3) and Rule 57U(8), were read as mandatory, making interest arise automatically on delayed payment of the confirmed amount. Payment only after appellate proceedings did not remove the liability. The demand for interest was therefore sustained. Case-Laws Central Excise Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264708