2010 (1) TMI 352

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..... the authorities below have demanded interest at 24%, applying provisions of Rule 8(3) of the Central Excise Rule, 2002. Held that- when assessee defaults in payment of duty, there is delay in payment. Cases of default and delay are one and the same. Interest at higher rate than that provided under section 11AB cannot be prescribed under subordinate rules as held by precedents. The appeal is allow .....

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..... ing decisions : (a) Lucid Colloids Ltd. v. UOI - 2006 (200) E.L.T. 377 (Raj.) (b) Elastolan Engineers Pvt. Ltd. v. CCE, Kolkata - 2007 (216) E.L.T. 297 (Tri.-Kol.) (c) Carter Hydraulilc Power Pvt. Ltd. v. CCE, Kolkata - 2008 (229) E.L.T. 603 (Tri.-Kol.) 2. Heard the Ld. JCDR, Shri V.V. Hariharan, who argues that the provisions under Section 11AB applies to delay in payment of duty whereas .....

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