https://www.taxtmi.com/caselaws?id=364698 A sick industrial company's rehabilitation scheme could not override statutory excise liabilities where the company had collected duty from customers but failed to remit it. The Court held that the scheme might regulate repayment for revival, but it could not defeat the excise department's right to recover dues, especially since the Central Excise law did not permit waiver of interest. As the principal duty had substantially been paid and the dispute concerned statutory interest and related reliefs, public revenue could not be lost under the guise of rehabilitation. The order refusing waiver of excise interest and penalty was upheld. en-us Fri, 20 Jul 2018 00:00:00 +0530 Wed, 03 Apr 2019 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364698 A sick industrial company's rehabilitation scheme could not override statutory excise liabilities where the company had collected duty from customers but failed to remit it. The Court held that the scheme might regulate repayment for revival, but it could not defeat the excise department's right to recover dues, especially since the Central Excise law did not permit waiver of interest. As the principal duty had substantially been paid and the dispute concerned statutory interest and related reliefs, public revenue could not be lost under the guise of rehabilitation. The order refusing waiver of excise interest and penalty was upheld. Case-Laws Central Excise Fri, 20 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364698