2004 (2) TMI 169

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.... Revenue against the impugned order-in-appeal, the issue relates to the denial of interest to the respondents on the alleged delayed payment. 2. I have heard both the sides. The perusal of the record shows that the refund claim of the respondents arose out of the initial denial of Modvat credit of certain amount to them. When the Modvat credit was denied to them by the adjudicating authority th....

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....o be refunded to them through cash/cheque/draft. No doubt Modvat credit is also to be treated as excise duty, but in a case of credit refund, no application under any rule is required to be made. It is only the reversal of the entry which has to be made by the assessee himself after the passing of any order in his favour. Therefore, under all these circumstances, whether still any interest could b....