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TMI Blog2016 (11) TMI 1139X X X X Extracts X X X X X X X X Extracts X X X X ..... e statutory obligation. The interest liability accrues from the date of duty liability. I also find from the decision relied by Revenue in the grounds of appeal in the case of NCS Sugars Ltd. Vs CC Visakhapatnam [2010 (10) TMI 301 - CESTAT, BANGALORE] holding that duty demanded cannot be claimed time-barred since the appellant had executed a bond undertaking to meet such liability in case of its f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by availing the concessional rate of duty on the condition that they would fulfil the export obligation as was prescribed by the Licensing Authority. However, the respondent-importer had not fulfilled the export obligation within the stipulated time which is one of the conditions of the Notification No.110/95. He submits that the concessional duty availed for the six consignments cleared during th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prescribed for demand of interest. The licence having been issued with three other such licences and the proceedings initiated by DGFT and SIPCOT had delayed the process. Ld. Commissioner (Appeals) failed to take note of amendment in para 4 and 5 of the said notification wherein the importer is liable to pay the proportionate duty amount to the unfulfilled portion of the export obligation for eac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earlier proceedings also. Therefore, I proceed to dispose the appeal on merits. 4. After hearing Ld. A.R and on perusal of records, I find force in the submission of Ld. A.R. The learned Commissioner (Appeals) held that interest liability is unsustainable as time-barred, but the respondent has not cared to comply with the statutory obligation. The interest liability accrues from the date of dut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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