https://www.taxtmi.com/caselaws?id=381430 The Supreme Court dismissed the Revenue's appeal, affirming the Calcutta High Court's decision allowing Rasoi Limited to utilize accumulated Modvat credit instead of paying duty in cash. Rasoi was granted interest on the duty paid in cash and on the delayed refund of Rs. 4.10 crores, in line with legal precedents. However, the claim for interest on delayed payment of interest was rejected, following established principles that only statutory interest is payable. The Tribunal upheld the Commissioner (Appeals)'s order, dismissing both parties' appeals. en-us Thu, 28 Mar 2019 00:00:00 +0530 Wed, 12 Jun 2019 06:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381430 The Supreme Court dismissed the Revenue's appeal, affirming the Calcutta High Court's decision allowing Rasoi Limited to utilize accumulated Modvat credit instead of paying duty in cash. Rasoi was granted interest on the duty paid in cash and on the delayed refund of Rs. 4.10 crores, in line with legal precedents. However, the claim for interest on delayed payment of interest was rejected, following established principles that only statutory interest is payable. The Tribunal upheld the Commissioner (Appeals)'s order, dismissing both parties' appeals. Case-Laws Central Excise Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381430