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The High Court set aside the order of the Settlement Commission affirming the petitioner's liability to pay further amounts towards interest, over and above the customs duty payable for default in meeting the Export Obligation under the EPCG license. The court held that the amendment vide Notification No. 46/2013-Cus and Public Notice No. 22(RE-2013)/2009-2014 dealt only with default in Export Obligation when duty is paid, regularizing the interest amount not exceeding the duty payable. It did not cover cases of bona fide default by the importer. Consequently, the determination of defaulted interest by the Deputy Commissioner and affirmation by the Settlement Commission was held arbitrary and contrary to the notifications. The petitioner's application before the Settlement Commission was allowed by the High Court.
The High Court set aside the order of the Settlement Commission affirming the petitioner's liability to pay further amounts towards interest, over and above the customs duty payable for default in meeting the Export Obligation under the EPCG license. The court held that the amendment vide Notification No. 46/2013-Cus and Public Notice No. 22(RE-2013)/2009-2014 dealt only with default in Export Obligation when duty is paid, regularizing the interest amount not exceeding the duty payable. It did not cover cases of bona fide default by the importer. Consequently, the determination of defaulted interest by the Deputy Commissioner and affirmation by the Settlement Commission was held arbitrary and contrary to the notifications. The petitioner's application before the Settlement Commission was allowed by the High Court.
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