2005 (5) TMI 491

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.... Shri A.S. Bedi, DR, for the Respondent. [Order]. - In this appeal the appellants have only disputed their liability to pay interest on the wrong availment of the Modvat credit on HSD oil. 2.The Revenue has claimed the interest from the year 1998 when Modvat credit on HSD Oil was withdrawn retrospectively by the Government by making amendment in the provisions of Rule 57B read with Sectio....

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....permissible prior to the amendment of Rule 57B was taken/availed by the assessee and the dispute relating the validity of the amendment, went up to the Apex Court who ultimately decided the issue in favour of the Government. However, the Apex Court regarding the liability of the assessee to make payment, observed as under: "The time to make payment under Section 112(2)(b) of the Finance Act has....