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TMI BlogInterest on arrears of confirmed demandX X X X Extracts X X X X X X X X Extracts X X X X ..... ted to invited your attention to the provisions of the Finance Bill, 1995, which sought to introduce a new section 28AA in the Customs Act. 1962 for the purposes of levy of interest on delayed payments of confirmed demands by the assesses, and to say that the said section 28AA has become a part of the Customs Act, 1962 with the enactment of the Finance Bill, 1995 with effect from 26.5.1995. Conseq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or erroneously refunded. For this reason it becomes very important that the process of adjudication involving recovery of duties is expedited. Any delay in adjudication of a demand which is ultimately confirmed may lead to a loss of revenue in terms of loss of interest income. It is, therefore, essential and desirable that supervisory officers review the pendencies of cases where show cause notice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, the adjudication officers have to ensure that there is no delay between taking the decision and its communication. The Board desires that this particular aspect should be monitored by the supervisory officers. The director General of Inspection should also keep these points in view while inspecting the field formations and comment on delays, if any, in the adjudication process. 4. There m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nfirmation of demands which may have been kept in the "Call Book" should also be reviewed and action taken to complete the adjudication unless there has been a stay in terms of any order of a Tribunal or Court. 6. These instructions may be brought to the notice of assessing officers/ adjudicating officers in the form of a standing order, under intimation of the Board, and should be strictly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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