TMI Blog2015 (11) TMI 1236X X X X Extracts X X X X X X X X Extracts X X X X ..... e paid by the appellant within two months from the date of communication of the order by the Commissioner. On payment of the amount of interest, the Bank Guarantee furnished by the appellant shall stand discharged. - Decided against assessee. - Civil Appeal No. 3745/2007 - - - Dated:- 27-10-2015 - Mr. A.K. Sikri And Mr. Rohinton Fali Nariman, JJ For the Petitioner : Mr. S. K. Bagaria, Sr. Adv., Mr. Gaurav Juneja, Adv., Mr. Shikhar Srivastava, Adv., Mr. K. Ajit Singh, Adv. M/s. Khaitan Co. For the Respondent : Mr. K. Radhakrishnan, Sr. Adv., Mr. Shankar Divate, Adv., Mr. Arijit Prasad, Adv., Ms. Sunita Rani Singh, Adv. And Mr. B. Krishna Prasad, Adv. ORDER The appellant-assessee herein entered into a contract ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rred appeal against the said order before the Customs, Excise and Service Tax Appellate Tribunal (hereinafter referred to as 'CESTAT') which also dismissed the appeal vide orders dated 05.04.2007. Mr. S. K. Bagaria, learned senior counsel appearing for the appellant, fairly conceded that the case is covered by the judgment of this Court in 'Kesoram Rayon v. Collector of Customs, Calcutta' [1996 (5) SCC 576]. However, he endeavored to argue that the said judgment does not depict the law correctly and, therefore, made a fervent plea to refer the matter to larger Bench. After hearing learned senior counsel for both the sides on this aspect, we are of the view that Kesoram Rayon lays down the law correctly and there is no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 27/06/1998 29/02/2000 612 20 81/91-Cus.(N.T.) dated 23/12/1991-J 01/03/2000 12/05/2002 802 24 34/2000-Cus.(N.T.) dated 12/05/2000 13/05/2002 29/08/2003 473 15 28/2002-Cus.(N.T.) dated 13/05/2002 Mr. Bagaria is right in his submissions on both these counts. Therefore, while dismissing the appeal, insofar as interest is concerned, we direct the Commissioner to recalculate the interest. He may complete this exercise within one mon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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