9911796707
TMI Blog2004 (3) TMI 305X X X X Extracts X X X X X X X X Extracts X X X X ..... 59,59,044 on 5-4-2001. Subsequently, on detecting the mistake they reversed the amount on 6-10-2001. A show cause notice dated 24-9-2002 was issued to them proposing confirmation of the reversal of credit and proposing levy of interest and imposition of penalty. The Assistant Commissioner charged interest of Rs. 6,15,495/- holding that although for the period prior to 11-5-2001, the provisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and since the duty became payable prior to 11-5-2001, the interest could not be levied as admittedly no fraud/collusion/suppression of facts etc, was involved. On the other hand, it is the contention of the ld. D.R. that although duty became payable in April, 2001, it continued to remain payable until October, 2001 when it was actually paid and by that time Sec. 11AB was amended so as to provide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct of the demand for the period prior to 11-5-2001 as there was no fraud/collusion suppression of facts etc. on the part of the appellants. In that case, the duty was payable for the period from March, 2001 to December, 2001 and the Tribunal held that the appellants were liable to pay interest under Sec. 11AB only in respect of duty which became payable from 11-5-2001 onwards even though the appel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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