2007 (8) TMI 272

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....m, Vice President]-The Assistant Commissioner of Central Excise confirmed a duty demand of Rs.1,86,125/- together with interest on steel formers manufactured and captively consumed in the process of manufacture of ingots and billets during the period from 1.9.1997 to 30.4.2000 without discharging duty liability thereon.  Penalty of equal amount was also imposed upon the assessees.  The C....

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....or admissibility of modvat credit and of setting aside of interest and penalty. 2.  I have heard both sides. 3.  I see force in the submission of the learned SDR that although a time-barred demand for a sum legitimately payable may not be enforceable, if the assessee pays the duty and that duty is accepted, it is not refundable unless there is evidence of recovery by resort to coer....