2008 (5) TMI 273

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..... ed payment, provision for interest containing Section 75 is mandatory - tribunal cancelled the interest on the assumption that the demand made is penalty - Additional Commissioner waived penalty and demanded is only in the form of interest u/s 75 – revenue’s appeal allowed by cancelling the order of the Tribunal - 4 of 2006 - - - Dated:- 26-5-2008 - C.N. Ramachandran Nair and V.K. Mohanan, JJ. .....

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..... rovision for interest containing Section 75 is mandatory. The Tribunal appears to have cancelled the interest on the assumption that the demand made is penalty. However, on going through the impugned order of the Additional Commissioner, we find that he had waived penalty and the amount of Rs. 19,009/- demanded is only in the form of interest under Section 75, which is mandatory in nature. Learned .....

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