https://www.taxtmi.com/caselaws?id=52125 The Appellate Tribunal CESTAT, New Delhi rejected the appeals challenging the recovery of interest under Section 112(2) of the Finance Act, 2000. The Tribunal held that interest liability accrues if payment is delayed beyond the stipulated 30-day period from the Act's assent, emphasizing the legal obligation on appellants to pay back the credit without awaiting confirmation of demand. The judgment confirmed the correctness of the interest amount demanded, emphasizing the timely payment requirement to avoid interest liability. en-us Wed, 01 Oct 2003 00:00:00 +0530 Fri, 01 Oct 2010 13:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52125 The Appellate Tribunal CESTAT, New Delhi rejected the appeals challenging the recovery of interest under Section 112(2) of the Finance Act, 2000. The Tribunal held that interest liability accrues if payment is delayed beyond the stipulated 30-day period from the Act's assent, emphasizing the legal obligation on appellants to pay back the credit without awaiting confirmation of demand. The judgment confirmed the correctness of the interest amount demanded, emphasizing the timely payment requirement to avoid interest liability. Case-Laws Customs Wed, 01 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52125