Section 11AB Amendment: Interest on Duties Still Required for Fraud, Collusion, or Evasion Before May 11, 2001.

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....Interest on Duty - The amendment does not wipe out the existing liability to pay interest in respect of cases involving fraud, collusion, any wilful mis-statement of facts with intent to evade payment of duty - the amended sub-section 2 of Section 11AB from 11.05.01 only mandates that interest liability cannot be fastened under the amended Section 11AB prior to 11.05.01 - AT....