2010 (8) TMI 214 - AT - Customs

Interest delay in payment of duty - assessable value of goods imported enhanced - directing payment of balance differential duty order of confiscation of goods with an option to redeem on payment of fine and imposing penalty on 14-9-2000 - in May 2003 that the Bill of Entry was produced by the assessees and re-assessed Within five days of reassessment the balance duty was paid - no delay in payment of the re-assessed duty and therefore no liability arises for payment of interest - order setting aside the liability to interest and reject the appeal

Summary

The Appellate Tribunal CESTAT, Chennai set aside interest liability on importers. The Tribunal found no delay in payment of re-assessed duty, so no interest liability arises. The appeal by the Revenue was rejected.