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2016 (11) TMI 1139 - CESTAT CHENNAI

2016 (11) TMI 1139 - CESTAT CHENNAI - TMI - Demand of interest - N/N. 110/95 dt. 05.06.1995 - EPCG Scheme - non-fulfilment of export obligation within the stipulated time - Held that: - The learned Commissioner (Appeals) held that interest liability is unsustainable as time-barred, but the respondent has not cared to comply with the statutory obligation. The interest liability accrues from the date of duty liability. I also find from the decision relied by Revenue in the grounds of appeal in the .....

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DC (A.R), For the Appellant None, For the Respondent Order This is an appeal filed by Revenue against the orders of the appellate authority dt.10.05.2013. The adjudicating authority confirmed the demand of interest in terms of Notification No.110/95 dt. 05.06.1995 of the Customs Act, 1962 which has been set aside by learned Commissioner (Appeals). Hence the present appeal filed by Revenue. 2. Ld. A.R on behalf of Revenue submits that the respondent M/s.Gold Star Apparels Ltd. Imported under EPCG .....

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ther co-operated with the proceedings nor turned up for personal hearing. Since they failed to respond to the notices issued, the Bank Guarantee of ₹ 4,34,700/- submitted by them was encashed towards the liability on 1.11.2001 and the demand of interest of ₹ 5,76,718/- was confirmed in terms of Notfn No.110/95. 2.1 He submits that the order of appellate authority observing that demand of interest is time-barred is erroneous as the issue was taken up back in 1998 itself by way of issu .....

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