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2014 (6) TMI 236

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....s; Heard both sides and perused the records. 2. Revenue has filed this appeal against the order passed by the Commissioner (Appeals). 3. The original authority demanded Rs.48,254/- being the differential interest payable under Rule 8 of the Central Excise Rules, 2002 and imposed a penalty of Rs.12,000/- under Rule 25 of the Central Excise Rules, 2002. Commissioner (Appeals) set aside the adjudi....

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....per day, whichever is higher' is held to be invalid. Consequently, interest chargeable on delayed payment had to be only at the rate of 2% per month or for that matter 24% per annum as notified by the State Government in terms of the Section 11BC, which is between the permissible limits in 'terms of Section 11AB. Consequently, the demand notices are quashed and interest on delayed payment has to b....