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2017 (3) TMI 1069 - HC - CustomsEntitlement of interest - The assessee seeks payment of interest on the moneys deposited pursuant to investigation carried out at its premises by DRI, while the Revenue resists the claim for payment of interest, as it is the stand of the Revenue that the moneys so deposited was in the nature of security deposit - Held that; - while a sum of ₹ 4,57,892/- was adjusted towards duty payable qua October and November, 1995 clearances, in so far as the balance amount was concerned, it was also adjusted towards ''duty liability'', albeit, in respect of past clearances. Therefore, to our minds, the nature of deposit, even if the best case scenario qua the customs authorities is accepted, which is that it was a voluntary deposit, changed after 30.06.1997 - the officers of DRI had clearly no jurisdiction to demand and collect any amounts from the assessee, in view of the fact that they are not vested with powers of an Assessing Officer. It only be right that the Revenue be called upon to pay interest to the assessee because, by its nature, any such collection of money by Revenue can only be termed as exaction under ostensible authority of law - appeal allowed - decided in favor of assessee.
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