https://www.taxtmi.com/caselaws?id=78151 The case involved a dispute over the liability of the respondent to pay interest on delayed duty deposit for manufacturing fertilizer. The Hon'ble Rajasthan High Court deemed the demand for interest at the rate of Rs. 1000 per day unsustainable, as Rule 8(3) of Central Excise Rules, 2002 prescribing this rate was held ultra vires. Despite equitable grounds, a strict legal interpretation required the respondents to pay 2% interest due to delays in duty deposits, emphasizing adherence to statutory provisions over equitable considerations. The appeal was decided in favor of charging 2% interest for the delay period. en-us Fri, 11 Jun 2010 00:00:00 +0530 Wed, 03 Nov 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78151 The case involved a dispute over the liability of the respondent to pay interest on delayed duty deposit for manufacturing fertilizer. The Hon'ble Rajasthan High Court deemed the demand for interest at the rate of Rs. 1000 per day unsustainable, as Rule 8(3) of Central Excise Rules, 2002 prescribing this rate was held ultra vires. Despite equitable grounds, a strict legal interpretation required the respondents to pay 2% interest due to delays in duty deposits, emphasizing adherence to statutory provisions over equitable considerations. The appeal was decided in favor of charging 2% interest for the delay period. Case-Laws Central Excise Fri, 11 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78151