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2017 (9) TMI 1133 - CESTAT NEW DELHIWaiver of interest demanded - Warehouse of goods - equipment and goods were imported for the purpose of 100% EOU. But due to unforeseen reasons, the project could not be started and there was no question of exporting the goods - Held that: - The purpose of 100% EOU has been defeated for the unforeseen reasons. Undoubtedly, goods and equipments were imported where customs duty was also not paid. For paying duty belatedly the interest is leviable as per the ratio laid down by the Hon’ble Supreme Court in the case of CIT Vs. Sant Ram Mangat Ram Jewellers [2003 (1) TMI 10 - SUPREME Court]. It may be mentioned that ignorance of law is no excuse - demand of interest upheld - appeal dismissed - decided against appellant.
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