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2014 (10) TMI 340 - AT - Central ExciseInterest demand - Delay in payment of duty - Held that:- It is a settled position in law as laid down by the Hon'ble Apex Court in the case of International Auto Ltd. [2010 (1) TMI 151 - SUPREME COURT OF INDIA], SKF India Ltd. (2009 (7) TMI 6 - SUPREME COURT) that interest liability accrues whenever there is a delay in payment of duty and interest is a compensatory payment. In the case of J.K. Industries Ltd. [2011 (3) TMI 373 - KARNATAKA HIGH COURT] the Hon'ble Karnataka High Court held that the liability to pay interest is not dependent upon whether the payment is made before finalization or after finalization of the provisional assessment. Liability to pay interest would accrue, even in the case of provisional assessment where the short payment of duty was made good before the final assessment order was issued. As regards the reliance placed on the Single Member decision dated 10/03/2004, the Division Bench decision in the case of CEAT Ltd. case was not brought to the notice of the Single Member Bench. In these circumstances, the appellant has not made out any case at all for grant of waiver of pre-deposit. - appellant to deposit entire interest liability - stay denied.
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