2006 (7) TMI 502

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....ellant. S/Shri C. Ramkumar, Deputy Commissioner and S. Sugumar Suresh, Intelligence Officer, DRI, for the Department. [Order]. -  Shri Ravi Kapoor, 8, Vallabha Agraharam Street, Land Opp. To Star Talkies, Triplicane, Chennai-600005 (hereinafter referred to as the 'Applicant') filed this application dated 20th June, 2005 under Section 127B of the Customs Act, 1962 for settlement of th....

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.... (vii) Shri A. Jagadeesh Babu, No. 8, Vallabha Agraharam Street, Triplicane, Chennai-600035 have also filed applications as Co-applicants for settlement of the proceedings initiated against them vide the Show Cause Notice mentioned supra. The above application along with the applications of the co-applicants have been admitted and allowed to be proceeded with under Section 127C(1) of the Customs A....

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.... and Shri S. Sugumar Suresh, Intelligence Officer, DRI, Chennai. 4. The Advocate submitted that they have paid full amount of Rs. 33,92,832/-. He, therefore, requested for immunities. He specifically pleaded for immunity from interest, because, according to him, an amount of Rs. 10,22,377/- was paid by the applicants more than five years back, and the said amount has been with the Departme....

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....33,92,832/- was paid only from March, 2006 to June, 2006. Thus, there is no doubt that the applicant had enjoyed this amount for considerably long period. Therefore, the Bench is of the view that the applicant should pay a simple interest @ 10% per annum on this amount for the period between the date of imports till the amount was actually paid. 6. Accordingly, the application is finally s....