2007 (6) TMI 376

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....evenue is aggrieved by the order of the Commissioner (Appeals) holding that interest chargeable during the period when the respondents defaulted in payment of duty was 24% per annum. According to the Revenue the rate of interest should have been 2% per month or Rs. 1,000/- per day whichever is higher in terms of Rule 8(3) of Central Excise Rules as amended by Notification 12/2003 w.e.f. 1-4-2003. ....