https://www.taxtmi.com/caselaws?id=1159 Interest on a refunded customs duty amount under an interim restitution order cannot be claimed on the full sum where the final outcome of the substantive dispute substantially reduces the basis on which that refund was calculated. The Supreme Court's earlier result had reduced the assessable value, so the duty component linked to the disputed additions was not fully sustained. On that footing, the Department was not entitled to recover interest at 18% per annum on the entire refunded amount for the interim period. The Court left open the broader question of whether interest was chargeable under the Customs Act, 1962 as it stood in 1988. en-us Thu, 29 Mar 2007 00:00:00 +0530 Mon, 14 Apr 2008 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1159 Interest on a refunded customs duty amount under an interim restitution order cannot be claimed on the full sum where the final outcome of the substantive dispute substantially reduces the basis on which that refund was calculated. The Supreme Court's earlier result had reduced the assessable value, so the duty component linked to the disputed additions was not fully sustained. On that footing, the Department was not entitled to recover interest at 18% per annum on the entire refunded amount for the interim period. The Court left open the broader question of whether interest was chargeable under the Customs Act, 1962 as it stood in 1988. Case-Laws Customs Thu, 29 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1159