https://www.taxtmi.com/caselaws?id=81197 The Appellate Tribunal CEGAT, New Delhi held that importers were not required to pay interest on consignments imported before the amendment of Section 61 of the Customs Act, 1962. The Tribunal determined that the law applicable at the time of warehousing, i.e., Section 61 before the amendment, governed the case, absolving importers from paying interest. The Tribunal rejected the argument that importers were bound by their agreement to pay interest, deeming it unenforceable. Despite a dissenting opinion, the majority decision upheld the lower appellate authority's ruling, dismissing the Department's appeal. en-us Thu, 03 Jan 1991 00:00:00 +0530 Thu, 23 Jun 2011 10:37:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81197 The Appellate Tribunal CEGAT, New Delhi held that importers were not required to pay interest on consignments imported before the amendment of Section 61 of the Customs Act, 1962. The Tribunal determined that the law applicable at the time of warehousing, i.e., Section 61 before the amendment, governed the case, absolving importers from paying interest. The Tribunal rejected the argument that importers were bound by their agreement to pay interest, deeming it unenforceable. Despite a dissenting opinion, the majority decision upheld the lower appellate authority's ruling, dismissing the Department's appeal. Case-Laws Customs Thu, 03 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81197