https://www.taxtmi.com/caselaws?id=116052 The Appellate Tribunal CESTAT, New Delhi ruled in favor of the revenue, overturning the order granting a refund to the respondents for interest payments. The Tribunal held that interest should be calculated based on the rates applicable during both storage and clearance of goods, contrary to the Commissioner (Appeals) interpretation. Emphasizing adherence to statutory provisions, the decision highlighted the need for accuracy in determining refund claims related to interest payments under Section 61(2) of the Customs Act. The ruling emphasized consistency and proper application of interest rates in customs-related financial assessments. en-us Thu, 14 Jul 2005 00:00:00 +0530 Wed, 06 Jun 2012 17:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116052 The Appellate Tribunal CESTAT, New Delhi ruled in favor of the revenue, overturning the order granting a refund to the respondents for interest payments. The Tribunal held that interest should be calculated based on the rates applicable during both storage and clearance of goods, contrary to the Commissioner (Appeals) interpretation. Emphasizing adherence to statutory provisions, the decision highlighted the need for accuracy in determining refund claims related to interest payments under Section 61(2) of the Customs Act. The ruling emphasized consistency and proper application of interest rates in customs-related financial assessments. Case-Laws Customs Thu, 14 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116052