https://www.taxtmi.com/caselaws?id=122945 Interest on warehoused goods cleared under the DEPB exemption scheme was held not payable where the duty liability on the goods was nil. The principle applied was that interest cannot exist independently of an underlying duty liability, so once the goods were cleared without payment of basic customs duty and CVD against production of DEPB scrips, no interest could be charged for delayed clearance. Departmental circulars relied on by the revenue did not override that principle, and the importers' appeals were correctly allowed. en-us Fri, 24 Aug 2007 00:00:00 +0530 Fri, 29 Sep 2017 09:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122945 Interest on warehoused goods cleared under the DEPB exemption scheme was held not payable where the duty liability on the goods was nil. The principle applied was that interest cannot exist independently of an underlying duty liability, so once the goods were cleared without payment of basic customs duty and CVD against production of DEPB scrips, no interest could be charged for delayed clearance. Departmental circulars relied on by the revenue did not override that principle, and the importers' appeals were correctly allowed. Case-Laws Customs Fri, 24 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122945