https://www.taxtmi.com/caselaws?id=126050 Substantial compliance with transitional credit requirements, where the assessee filed the declaration, accounted for stock and production, and later regularised the register entries, was treated as sufficient. The omission to first make the prescribed credit and debit entries was held to be a bona fide procedural lapse, not a default in payment of duty. As interest is attracted for non-payment of duty and not for mere irregular maintenance of accounts where the duty liability has been discharged in substance, the demand for interest was held unsustainable and the assessee's appeal succeeded. en-us Fri, 27 Feb 2009 00:00:00 +0530 Thu, 01 Nov 2012 16:50:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126050 Substantial compliance with transitional credit requirements, where the assessee filed the declaration, accounted for stock and production, and later regularised the register entries, was treated as sufficient. The omission to first make the prescribed credit and debit entries was held to be a bona fide procedural lapse, not a default in payment of duty. As interest is attracted for non-payment of duty and not for mere irregular maintenance of accounts where the duty liability has been discharged in substance, the demand for interest was held unsustainable and the assessee's appeal succeeded. Case-Laws Central Excise Fri, 27 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126050