9911796707
TMI Blog2007 (6) TMI 346X X X X Extracts X X X X X X X X Extracts X X X X ..... .M. Mathkar, JDR, for the Respondent. [Order]. The issue involved in the present appeal relates to quantum of interest in terms of Section 61(2) Clause 2(ii) of Customs Act, 1962. The same stands charged by the Revenue in terms of the Notification No. 10/2001-Cus. (N.T.), dt. 1-3-2001 issued by the Central Government in terms of Section 61 fixing the rate of interest as 24% per annum, in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appellant. The appellant has been in error in equating the rate of interest fixed by the Central Government under Section 47(2) of the Act (vide the Notification No. 28/2002-Cus., dt. 13-5-2002) with the limit referred to in Section 61(2)(ii) of the Act. What it requires is that the interest shall be payable at such rate or rates not exceeding the rate specified in Section 47. The appellant h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Notification No. 10/2001-Cus. stands issued by the Board in terms of the provisions of Section 61 and cannot be challenged before the Tribunal. If the appellant is aggrieved with the fixation of rate vide the said notification, the other avenues are open to him for challenging the vires. In any case, I find that the issue also stands decided by the Board and the rate of 24% is within the range pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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