https://www.taxtmi.com/caselaws?id=125824 An amendment imposing interest on warehoused goods under the Customs Act operates prospectively unless expressly made retrospective, so liability is governed by the law in force when the goods were warehoused. Goods warehoused before 12-05-1999 were therefore outside the amended Section 61(2), and the consequential demand of interest could not be sustained. On the same footing, the penalty under Section 117 also failed because it was founded on a non-applicable amended liability. The Revenue's challenge was rejected and the order setting aside the interest and penalty demand was upheld. en-us Thu, 22 Jan 2009 00:00:00 +0530 Tue, 30 Oct 2012 15:48:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125824 An amendment imposing interest on warehoused goods under the Customs Act operates prospectively unless expressly made retrospective, so liability is governed by the law in force when the goods were warehoused. Goods warehoused before 12-05-1999 were therefore outside the amended Section 61(2), and the consequential demand of interest could not be sustained. On the same footing, the penalty under Section 117 also failed because it was founded on a non-applicable amended liability. The Revenue's challenge was rejected and the order setting aside the interest and penalty demand was upheld. Case-Laws Central Excise Thu, 22 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125824