https://www.taxtmi.com/caselaws?id=125663 Interest on duty foregone for goods imported under the EOU scheme and retained in a bonded warehouse beyond the permitted period was treated as not prima facie recoverable under Section 61 of the Customs Act on the facts shown. The demand was challenged because no provision in the Customs Act, the rules made under it, or the EXIM Policy was identified as authorising interest for the alleged overstay period, and Section 61(2)(ii) was considered apparently inapplicable. On that basis, waiver of pre-deposit was granted and recovery of the interest demand was stayed. en-us Fri, 17 Oct 2008 00:00:00 +0530 Sat, 27 Oct 2012 13:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125663 Interest on duty foregone for goods imported under the EOU scheme and retained in a bonded warehouse beyond the permitted period was treated as not prima facie recoverable under Section 61 of the Customs Act on the facts shown. The demand was challenged because no provision in the Customs Act, the rules made under it, or the EXIM Policy was identified as authorising interest for the alleged overstay period, and Section 61(2)(ii) was considered apparently inapplicable. On that basis, waiver of pre-deposit was granted and recovery of the interest demand was stayed. Case-Laws Central Excise Fri, 17 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125663