https://www.taxtmi.com/caselaws?id=34300 A BIFR-approved rehabilitation scheme for a sick industrial company can override enforcement of covered excise liabilities under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985. Where the scheme expressly waives penal interest, interest and penalties, those demands cannot be sustained. Duty already debited through available Cenvat credit constitutes valid discharge where the scheme covers the liability; authorities cannot require payment through the PLA followed by re-credit. The interest and penalty demands, and the disputed requirement concerning the mode of duty payment, were set aside in favour of the assessee. en-us Thu, 19 Feb 2009 00:00:00 +0530 Tue, 16 Mar 2010 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34300 A BIFR-approved rehabilitation scheme for a sick industrial company can override enforcement of covered excise liabilities under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985. Where the scheme expressly waives penal interest, interest and penalties, those demands cannot be sustained. Duty already debited through available Cenvat credit constitutes valid discharge where the scheme covers the liability; authorities cannot require payment through the PLA followed by re-credit. The interest and penalty demands, and the disputed requirement concerning the mode of duty payment, were set aside in favour of the assessee. Case-Laws Central Excise Thu, 19 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34300