https://www.taxtmi.com/caselaws?id=84122 The Tribunal referred the question of law to the Supreme Court regarding the liability to pay interest under Section 61(2) of the Customs Act, 1962 for goods cleared after overstaying in the warehouse without payment of customs duty. The Tribunal directed the applicants to pay 25% of the interest amount calculated by the Department, provide a Bank guarantee for 50% of the interest amount, and a property surety for the remaining 25% pending the Supreme Court's decision. The Tribunal recognized the need for a definitive ruling from the Supreme Court to resolve conflicting interpretations of the Customs Act provisions by different High Courts. en-us Tue, 07 Mar 1995 00:00:00 +0530 Tue, 19 Jul 2011 18:06:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84122 The Tribunal referred the question of law to the Supreme Court regarding the liability to pay interest under Section 61(2) of the Customs Act, 1962 for goods cleared after overstaying in the warehouse without payment of customs duty. The Tribunal directed the applicants to pay 25% of the interest amount calculated by the Department, provide a Bank guarantee for 50% of the interest amount, and a property surety for the remaining 25% pending the Supreme Court's decision. The Tribunal recognized the need for a definitive ruling from the Supreme Court to resolve conflicting interpretations of the Customs Act provisions by different High Courts. Case-Laws Customs Tue, 07 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84122