TMI Blog2021 (9) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... he issue is no longer in dispute as the same has been settled against the assessee by the Larger Bench of the Hon ble Supreme Court in the case of M/S. STEEL AUTHORITY OF INDIA LTD. VERSUS COMMISSIONER OF CENTRAL EXCISE, RAIPUR [ 2019 (5) TMI 657 - SUPREME COURT] where it ws held that the interest is chargeable. The facts and circumstances of the present case are identical to the facts of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of records available as held by the Hon ble Supreme Court in the case of BALAJI STEEL RE-ROLLING MILLS-2014 (310) ELT 209 (S.C) 2. Shri. Sanjiv Kinker, Learned Authorized Representative appearing on behalf of the Revenue reiterates the finding of the impugned order. He submits that the issue is settled against the assessee on the following judgments- Steel Authority of India Vs. Commissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of STEEL AUTHORITY OF INDIA LTD (Supra). Wherein, Hon ble Supreme Court passed the following order :- 63 . We are of the view that the reasoning of this Court in the order referring the cases to us (to this Bench) that for the purpose of Section 11AB, the expression ought to have been paid would mean the time when the price was agreed upon by the seller and the buyer does not s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not only be opposed to the plain meaning of the words used but also defeat the clear object underlining the provisions. It may be true that the differential duty becomes crystallised only after the escalation is finalized under the escalation clause but it is not a case where escalation is to have only prospective operation. It is to have retrospective operation admittedly. This means the value o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equally the interest. We would concur with the views expressed in SKF case (supra) and International Auto (supra). We find no merit in the appeals. The appeals will stand dismissed. 3.1 From the above judgment of the Apex Court it can be seen that the interest is chargeable. The facts and circumstances of the present case are identical to the facts of the case referred above, therefore, the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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