https://www.taxtmi.com/caselaws?id=117908 The Tribunal held that the reduced interest-free period under Section 61 of the Customs Act, 1962 should not apply retrospectively to goods warehoused before the effective date of the notification reducing the period. The order holding the appellants liable to pay interest on warehoused goods and rejecting their refund claim was set aside. The matter was remanded for consideration of evidence of unjust enrichment and passing on of the amount to the buyer. The appellant was granted the opportunity to present evidence, and the adjudicating authority was directed to reassess the situation based on the evidence provided. en-us Tue, 31 Jan 2006 00:00:00 +0530 Wed, 27 Jun 2012 13:10:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117908 The Tribunal held that the reduced interest-free period under Section 61 of the Customs Act, 1962 should not apply retrospectively to goods warehoused before the effective date of the notification reducing the period. The order holding the appellants liable to pay interest on warehoused goods and rejecting their refund claim was set aside. The matter was remanded for consideration of evidence of unjust enrichment and passing on of the amount to the buyer. The appellant was granted the opportunity to present evidence, and the adjudicating authority was directed to reassess the situation based on the evidence provided. Case-Laws Customs Tue, 31 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117908