2017 (9) TMI 409

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.... Mahindra, is in appeal against confirmation of demand of interest in respect of the amount paid by them prior to the finalization of provisional assessment. The appellant has pointed out that the issue regarding demand of interest in such circumstances has been decided by the Hon'ble Bombay High Court in CEAT Ltd. vs. CCE, Nashik 2015 (317) ELT 192 (Bom.). 2. I find that the Hon'ble High Court o....

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....ent thereon that the Assessee shall be liable to pay interest on any amount payable to the Central Government. Thus, the liability to pay interest arises on any amount payable to Central Government and consequent to order for final assessment under Rule 7 sub-rule (3). We are in agreement with the Assessee in the present case that the later part of sub-rule (4) is not attracted. The liability to p....

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....s indeed payable on the date on which the Assessee made payment of differential duty and prior to finalization of the assessment, then, the Rule would have specifically said so. In the absence of any such stipulation in the Rules the dictum in the decision of the Hon'ble Supreme Court in J.K. Industries Ltd. would apply. If that principle can be applied, then, there was no liability to pay interes....

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....ued in the cases which are dealt with by sub-section (2B) as held in SKF India Ltd. (supra). Therefore, that sub-section together with the proviso and explanation making specific provision for recovery of interest and enabling the Revenue to recover it, that the Hon'ble Supreme Court reached a conclusion that on price revision the Assessee was liable to pay interest on the differential duty. That ....