2015 (10) TMI 433 - SCH - Central Excise

Challenge to levy of interest - finalization of provisionsal assessment - differential duty - period from June 1996 to February 2000 - Notification No.68/63-CE dated 4th May, 1963 - Liability for interest - Supreme Court dismissed the appeal filed by the assessee against the decision of High Court 2014 (10) TMI 445 - BOMBAY HIGH COURT wherein High Court held that Liability to pay interest being reiterated in the acceptance of the proposal for instalments and the Petitioners having acted upon the same, the Petitioners are bound to pay interest at the rate of 18% per annum from the date of the order of the Supreme Court 2012 (8) TMI 791 - SUPREME COURT till the date of realisation as demanded pursuant to Notification No.5/2011 Central Excise (NT) dated 1st March, 2011 read with CBEC circular No.208/42/96-CX dated 2nd May, 1996. However, the petitioner is granted time to comply with the demand notice.

Summary

Supreme Court dismissed the case but granted the petitioner time until 15-8-2015 to comply with the demand notice dated 29-10-2012. (2015 (10) TMI 433 - SC)