1994 (4) TMI 180

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..... h, the learned counsel for the appellant, submitted that the short question for consideration in the appeal against the impugned order of the Collector of Customs Central Excise (Appeals), Cochin, dated 26-12-1991 confirming the order of the Asstt. Collector of Customs, Cochin, dated 30-10-1991, is as to whether the appellant would be liable to pay interest under the provisions of Section 61(2) .....

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..... nsation for delayed clearance of the goods. 3. After hearing both the parties, on consideration of the entire material on record, we are of the view that the plea urged by the learned SDR has to be accepted. The Division Bench in the ruling cited (supra) has observed as under : 10. Regarding the levy of interest, forming the subject matter of W.A. No. 917 of 1992, it is seen that the company .....

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..... nce of the goods from the warehouse was only on 28-11-1983. Interest claimed by the customs authorities is nothing but compensation for delayed clearance and the rate of interest is nothing but a standard measure of computing the compensation for delayed removal or overstay of the consignment in the warehouse. In our view the ratio of the ruling of the Kerala High Court cited by the learned cou .....

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