1996 (10) TMI 88 - SC - Customs

Is it open to the Revenue to demand interest from the assessees under Section 61(2) of the Act?

Held that:- The High Court erred in holding that the importers — assessees are liable to pay interest in the instant cases in respect of warehoused goods, though at the time of clearance the goods were exempt from payment of duty. The common judgment of the Bombay High Court dated 19th November, 1992 is reversed. All the appeals are allowed with costs, including counsel fee ₹ 5,000/- in each case.