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Central Excise - Highlights / Catch Notes

Home Highlights May 2017 Year 2017 This

Levy of Interest - retrospective amendment - The liability to ...


Interest Liability Set Aside: Retrospective Amendments Apply Only on Default, Not Retroactively as Quasi-Punishment.

May 11, 2017

Case Laws     Central Excise     AT

Levy of Interest - retrospective amendment - The liability to pay interest would only arise on default and is really in the nature of quasi-punishment. Interest liability can be prospective only. - interest set aside. - AT

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