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The CESTAT allowed the appeal by the appellants and set aside the order confirming interest under section 11AB of the Central Excise Act; it held that duty determined under section 11A was paid within the statutory three-month period, no penalty was imposed and there was no finding of fraud, collusion, wilful misstatement, suppression of facts or statutory contravention that would attract pre-11.05.2001 interest. Interest under amended section 11AB (effective 11.05.2001) cannot be applied retrospectively to the part period 01.04.2000-10.05.2001. Consequently the demand for interest on transit-loss duty was unsustainable and the appeal was allowed in favour of the appellants.
The CESTAT allowed the appeal by the appellants and set aside the order confirming interest under section 11AB of the Central Excise Act; it held that duty determined under section 11A was paid within the statutory three-month period, no penalty was imposed and there was no finding of fraud, collusion, wilful misstatement, suppression of facts or statutory contravention that would attract pre-11.05.2001 interest. Interest under amended section 11AB (effective 11.05.2001) cannot be applied retrospectively to the part period 01.04.2000-10.05.2001. Consequently the demand for interest on transit-loss duty was unsustainable and the appeal was allowed in favour of the appellants.
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