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2015 (4) TMI 488 - AT - Central ExciseDemand of differential duty - Finalization of provisional assessment - whether, the appellants are liable to pay interest on the differential duty in a case, where the duty is paid prior to passing of order finalizing provisional assessment - Held that:- Ruling in the case of Premier Ltd. vs. Union of India (2014 (10) TMI 445 - BOMBAY HIGH COURT), is not applicable in facts of this appeal. It is a case of demand for interest, which does not arise purely from the statute but from a negotiated demand for instalments, pursuant to the final order of the Hon'ble Supreme Court fixing liability to pay the principal amount. Further, I find from the plain reading of Rule 7 (4) that the liability to pay interest arises consequent to determination of amount payable on finalisation of provisional assessment. In the present case, the appellant has admittedly paid the differential duty prior to finalisation of provisional assessment. Further, I find that the issue is entirely covered by the ruling of Hon'ble Bombay High Court in the case of Ispat Industries Ltd. (2010 (10) TMI 178 - BOMBAY HIGH COURT ). - Decided in favour of assessee.
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