https://www.taxtmi.com/caselaws?id=423866 The appellant, a 100% EOU, was found not liable to pay interest on imported goods cleared after a warehousing period. The Customs Act provisions were interpreted to specify that interest could only be charged after three years of warehousing for goods intended for use by a 100% EOU. The Tribunal ruled in favor of the appellant, emphasizing that interest should not be imposed within the interest-free period provided under the warehousing provisions. The demand for interest and penalty was set aside, and the appeal was allowed based on statutory provisions and legal interpretations under the Customs Act. en-us Mon, 13 Jun 2022 00:00:00 +0530 Fri, 17 Jun 2022 09:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423866 The appellant, a 100% EOU, was found not liable to pay interest on imported goods cleared after a warehousing period. The Customs Act provisions were interpreted to specify that interest could only be charged after three years of warehousing for goods intended for use by a 100% EOU. The Tribunal ruled in favor of the appellant, emphasizing that interest should not be imposed within the interest-free period provided under the warehousing provisions. The demand for interest and penalty was set aside, and the appeal was allowed based on statutory provisions and legal interpretations under the Customs Act. Case-Laws Central Excise Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423866