2018 (2) TMI 534

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.... 1944 following finalization of provisional assessment for 2011-12 by the original authority. The amount was held to be payable on the supplementary invoices raised by the appellant on account of price variation as provided for in the commercial terms. 2. The issue before the lower authorities, and which is an appeal now, is the applicability of the date from which the interest liability sets in - from the date of original invoice or from the date of supplementary bill. The disputed interest liability pertains to this difference of perception. 3. Heard Learned Counsel for appellant and Learned Authorized Representative. 4. Learned Counsel relies upon the decision of the Honble High Court of Bombay in CEAT Limited v, Commissioner of Cent....

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....tion of the assessment. Upon finalizing, it is possible that the Revenue will determine the duty liability and to that of something more that has been recovered in the provisional assessment. When that exercise is finalized and consequent 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 pay interest on any amount payable to Central Government consequent to order for final assessment under Rule 7 sub-r....

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....justified in placing reliance upon its Larger Bench decision. The Larger Bench decision took assistance of the substantive provisions and particularly Section 11A and Section 11AB of the Act. We have already noted as to how Section 11A(1) operates. The notice under the same can be issued provided there is a satisfaction reached in terms of that provision. That notice need not be issued 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 inter....

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....n'ble Bombay High Court are per incuriam as the details of various Rules as also the judgment of the Hon'ble Supreme Court, Hon'ble High Court of Karnataka and other judgments of this Tribunal were not brought to the notice of the Tribunal or the Honble Bombay High Court. We also note some of these judgments are subsequent to the judgment in the case of Ispat Industries Ltd. and Tata Motors Ltd." 35. It is unfortunate that the Tribunal ignores and brushes aside even orders of this Court. Had the Tribunal noted the facts in Ispat Industries Ltd. and Tata Motors Ltd. it would have possibly concluded that those orders would bind it in this case. Possibly because it was inclined to follow its Larger Bench decision, the facts in Cadbury were m....