https://www.taxtmi.com/caselaws?id=762721 HC set aside Settlement Commission order requiring petitioner to pay additional interest on export obligation default under EPCG License. Court held that Public Notice No.22(RE-2013)/2009-2014 and Notification No.46/2013-Cus allowed regularization of export obligation defaults upon payment of customs duty plus interest not exceeding duty amount, without distinguishing bonafide defaults. Settlement Commission's interpretation requiring additional interest payments was deemed arbitrary and contrary to the policy framework. Deputy Commissioner's determination of defaulted interest component was ruled incorrect. Writ petition allowed. en-us Fri, 25 Oct 2024 00:00:00 +0530 Fri, 06 Dec 2024 08:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762721 HC set aside Settlement Commission order requiring petitioner to pay additional interest on export obligation default under EPCG License. Court held that Public Notice No.22(RE-2013)/2009-2014 and Notification No.46/2013-Cus allowed regularization of export obligation defaults upon payment of customs duty plus interest not exceeding duty amount, without distinguishing bonafide defaults. Settlement Commission's interpretation requiring additional interest payments was deemed arbitrary and contrary to the policy framework. Deputy Commissioner's determination of defaulted interest component was ruled incorrect. Writ petition allowed. Case-Laws Customs Fri, 25 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762721