2015 (11) TMI 1236

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.... Srivastava, Adv., Mr. K. Ajit Singh, Adv. & M/s. Khaitan & Co. For the Respondent : Mr. K. Radhakrishnan, Sr. Adv., Mr. Shankar Divate, Adv., Mr. Arijit Prasad, Adv., Ms. Sunita Rani Singh, Adv. And Mr. B. Krishna Prasad, Adv. ORDER The appellant-assessee herein entered into a contract dated 10.04.1996 with one M/s. China Iron & Steel Industry and Trade Group Corporation, Beijing, China,....

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....ds warehoused. It resulted in Show Cause Notice dated 30.03.2005 whereby a demand of duty of Rs. 3,07,65,945/- was raised in respect of uncleared goods which lay in the warehouse beyond the extended period by invoking the provisions of Section 72 of the Customs Act, 1962 (hereinafter referred to as 'Act'). The demand raised in the Show Cause Notice along with interest and penalty was confi....

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....ng learned senior counsel for both the sides on this aspect, we are of the view that Kesoram Rayon lays down the law correctly and there is no need to refer the matter to larger Bench. Since the matter is covered by Kesoram Rayon, this appeal has to fail on this aspect. Another issue which is raised by Mr. Bagaria is that there are wrong calculations of the interest which is sought to be cha....

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....002 29/08/2003 473 15   Calculation with Interest Free Days From date To date No. of days Rate of Interest Corresponding Notification No. 27/06/1998 29/02/2000 612 20 81/91-Cus.(N.T.) dated 23/12/1991-J 01/03/2000 12/05/2002 802 24 34/2000-Cus.(N.T.) dated 12/05/2000 13/05/2002 29/08/2003 473 15 28/2002-Cus.(N.T.....