https://www.taxtmi.com/caselaws?id=253464 The Court held that the disputed part of Rule 8(3) of the Central Excise Rules was invalid. Interest on delayed payment should be calculated at a flat rate of two per cent per month or twenty-four per cent per annum, in line with statutory provisions. Demand notices were quashed as petitioners had paid interest at the correct rate. Petitions were allowed, and no costs were awarded. en-us Thu, 20 Jun 2013 00:00:00 +0530 Tue, 25 Nov 2014 08:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253464 The Court held that the disputed part of Rule 8(3) of the Central Excise Rules was invalid. Interest on delayed payment should be calculated at a flat rate of two per cent per month or twenty-four per cent per annum, in line with statutory provisions. Demand notices were quashed as petitioners had paid interest at the correct rate. Petitions were allowed, and no costs were awarded. Case-Laws Central Excise Thu, 20 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253464