https://www.taxtmi.com/caselaws?id=47838 The Supreme Court dismissed the Petitioner's appeal, affirming the obligation to pay excise duty with interest at a rate not exceeding 12% per annum as per the sanctioned rehabilitation scheme outlined by BIFR. The Court ruled that the excise authorities could not demand interest exceeding the specified rate, holding the Petitioner liable for interest only at 12% per annum from a specified date. The decision clarified the interest rate to be paid by the Petitioner, with no costs imposed. en-us Tue, 11 Jan 2005 00:00:00 +0530 Sat, 31 Jul 2010 11:36:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47838 The Supreme Court dismissed the Petitioner's appeal, affirming the obligation to pay excise duty with interest at a rate not exceeding 12% per annum as per the sanctioned rehabilitation scheme outlined by BIFR. The Court ruled that the excise authorities could not demand interest exceeding the specified rate, holding the Petitioner liable for interest only at 12% per annum from a specified date. The decision clarified the interest rate to be paid by the Petitioner, with no costs imposed. Case-Laws Central Excise Tue, 11 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47838