Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
The High Court held that u/ss 28AA(1) and 28(10) of the Customs Act, there is no requirement for a demand for interest to be made in the original assessment order. Interest liability arises automatically if the duty demand raised u/s 28 is not paid within the specified time. The court rejected the petitioner's contention that interest cannot be demanded when there is no mention of it in the assessment order. The respondents raised the interest demand within three months of the duty demand, which was not paid, and therefore the demand for interest was valid and not time-barred. The petitioner's factory was rightly not released due to the pending interest liability.
The High Court held that u/ss 28AA(1) and 28(10) of the Customs Act, there is no requirement for a demand for interest to be made in the original assessment order. Interest liability arises automatically if the duty demand raised u/s 28 is not paid within the specified time. The court rejected the petitioner's contention that interest cannot be demanded when there is no mention of it in the assessment order. The respondents raised the interest demand within three months of the duty demand, which was not paid, and therefore the demand for interest was valid and not time-barred. The petitioner's factory was rightly not released due to the pending interest liability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
