9911796707
TMI Blog2003 (9) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 47(1) within seven days from the date on which the Bill of Entry is returned to him for payment of duty, the importer is liable to pay interest. Based on the same, a Notice was issued alleging that appellant had made payment of duty and effected clearance of warehoused goods after expiry of the period of seven days from the date on which the Bills of Entry were returned to him for payment of duty and consequently appellant was liable to pay interest for the period of delay the interest due was demanded. Appellant was also issued two further show cause notices on identical grounds. The show cause notices were issued on 20-12-1995 demanding interest for the period May, 1994 to September, 1994, on 10-4-1994 for the period October, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t would commence after seven days of returning the assessed Bill of Entry. Hence this appeal. 4. After hearing both sides and considering the matter it is found that :- (a) The Commissioner (Appeals) has erred in demanding interest by relying on the judgment of the Hon'ble Tribunal in the case of Pesticides Industries v. Collector of Customs - 1996 (87) E.L.T. 678 (T) without appreciating the fact that the said judgment is no longer a good law as the same pertained to a period when Section 61 had Clause (3) which read as under - "Notwithstanding anything contained in Section 47, on any warehoused goods specified in clause (b) of sub-section (1), the importer shall pay interest on the amount of duty at such rate as specified in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earance of the goods, in accordance with the provisions of Section 15 on the warehoused goods, for the period from the expiry of the said six months till the date of payment of duty on the warehoused goods. Provided that the Board may, if it considers it necessary so to do in the public interest, by order and under circumstances of an exceptional nature, to be specified in such order, waive the whole or part of any interest payable under this section in respect of any warehoused goods. : Provided further that the Board may, if it is satisfied that it is necessary so to do in the public interest, by notification in the Official Gazette, specify the class of goods, in respect of which no interest shall be charged under this section. Exp ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
