2009 (6) TMI 783 - AT - Customs

Summary

The Appellate Tribunal CESTAT, Mumbai ruled that the Revenue cannot claim interest under Section 18(3) of the Customs Act for duty provisionally assessed in February 2000 and finalized in December 2007. The case cited established that any levy incidental to finalization of provisional assessment is governed by the law in force at the time of provisional assessment. Since the provision for interest came into force after the assessment, the assessee is not liable to pay interest. The appeal of the Revenue was dismissed.