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M/s. Thangam Steel Ltd., rep by its Director Versus The Asst. Commissioner of Central Excise And Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench, Chennai

2018 (1) TMI 642 - MADRAS HIGH COURT

Demand of interest u/r 96ZO(3) of the CER, 1944 - quantification of interest - Held that: - a stand has been taken that several notices were issued to the petitioner for payment of interest, but they have not complied with the said demand. Since the .....

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nstruction to the learned Senior Panel Counsel in this regard. - There will be a direction to the first respondent to issue a fresh demand giving breakup details as to how the interest had been computed and thereafter, proceed to recover the inte .....

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hakrishnan, learned counsel appearing for the petitioner and Mr. K. S. Ramasamy, learned Senior Panel Counsel appearing for the respondents. 2. The petitioner is before this Court challenging the notice issued by the first respondent dated 12. 01. 20 .....

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uantified, interest has been demanded in terms of Rule 96ZO(3) of the Central Excise Rules, 1944. The said rule was held to be unconstitutional and struck down by the Hon'ble Supreme Court in the case of Shree Bhagwati Steel Rolling Mills vs. Com .....

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e before this Court challenging the impugned demand stating that they were not aware as to how the Department has quantified the interest of ₹ 15,49,857/-. According to the petitioner, the interest payable is only ₹ 1. 91 lakhs. There app .....

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mand. This contention is liable to be rejected, as the demand for interest is consequent upon the Order-in-Original and payment of interest is automatic. 4. In the counter affidavit, a stand has been taken that several notices were issued to the peti .....

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