https://www.taxtmi.com/caselaws?id=54666 The Tribunal dismissed the appeal against the Order-in-Appeal regarding the seizure of silk yarn by Customs Authority. The Commissioner (Appeals) set aside the confiscation, and the sale proceeds were returned to the appellant. The appellant's claim for interest on the sale proceeds was denied as there were no provisions in the Customs Act entitling them to interest on the refund. The decision was based on the principle that statutory authorities are bound by the provisions of the statute governing them, and in the absence of specific provisions for interest on sale proceeds, the appeal for interest was rejected. en-us Wed, 24 Aug 2005 00:00:00 +0530 Thu, 21 Oct 2010 13:49:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54666 The Tribunal dismissed the appeal against the Order-in-Appeal regarding the seizure of silk yarn by Customs Authority. The Commissioner (Appeals) set aside the confiscation, and the sale proceeds were returned to the appellant. The appellant's claim for interest on the sale proceeds was denied as there were no provisions in the Customs Act entitling them to interest on the refund. The decision was based on the principle that statutory authorities are bound by the provisions of the statute governing them, and in the absence of specific provisions for interest on sale proceeds, the appeal for interest was rejected. Case-Laws Customs Wed, 24 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54666