2007 (6) TMI 88

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....GD/2007, dated 5-2-2007. 2. Considered the submissions made at length by both sides and perused the records. The appeal is directed against the imposition of interest by the adjudicating authority and upheld by the Ld. Commissioner (Appeals). The imposition of the penalty on the appellant is under Section 11AB prior to its amendment of 11-5-2001. The appellants had availed credit of 100% of the....

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....The Ld. Commissioner (Appeals) has upheld the Order-in-Original as regards recovery of interest on the following findings "As regards appellant's contention that the provisions of Section 11AB of the Act cannot be invoked for period prior to 11-5-2001, as the period of dispute was April 2000 to February 2001, I find that the provisions of Section 11AB were already in existence at the time of of....

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.... 11AB specifically states that the "provisions of sub-section (1) shall not apply to cases where the duty became payable or sought to have been paid before the date on which the Finance Bill 2001 received its as sent by the President" The wordings of the sub-section (2) are very clear and squarely applicable in the current case before me. In the current case the denial of the ineligibility of cred....