TaxTMI 
TaxTMI 
2020 (2) TMI 770
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....arned Tribunal, following its earlier decision held that in view of the insertion of the provisions in Section 18(3) of the Customs Act, 1962, w.e.f. 13 July 2006, making a provision for imposition of interest on the difference of duty upon final assessment made by the Assessing Authority, for the period prior to the amendment in law, viz., w.e.f. 13 July 2006, no interest could be levied by the Assessing Authority under Section 18(3) of the Act. The relevant portion of the order of the learned Tribunal is quoted below for ready reference : 5. On a plain reading of Section 18(3), it is clear that interest is payable on the provisional assessment of duty "from the first day of the month in which duty is provisionally assessed till t....
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....ed. At the same time, we find that no incriminating evidence have been found nor any duplicate invoices or suppression of invoices etc. are involved in this case. Therefore, while confirming the differential duty demand which has been made on the basis of comparable prices, we waive confiscation of the imported goods, imposition of redemption fine and penalty in this case. As regards the order of the Adjudicating Commissioner, in page 14 that differential duty along with interest should be adjusted from the bank guarantee, we find that the goods were initially assessed provisionally at the declared valuation on execution of bond and bank guarantee and since as pointed out by Shri Mehta there was no provision under Section 18 of the Customs ....
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.... other hand, the learned counsel for the Assessee relied upon the judgment of the Gujarat High Court in the case of Commissioner of Customs (Preventive) vs. M/s.Goyal Traders, 2011 TIOL 568 HC AHM Cus, in which, dealing with the same controversy which is involved in the case in hand before us, the Division Bench of Gujarat High Court held that for the period prior to 13.07.2006, no interest can be levied under section 18(3) of the Act on such differential duty assessed upon final assessement. The relevant portion of the said judgment is quoted below for ready reference :- 16. Particularly, in fiscal legislation imposing liabilities generally governed by the normal rule is that it is not retrospective in nature. It is, however, equa....
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....on 171 as embracing a case where assessment of a Hindu undivided family is made under the provisions of the old Act. Here in the present case, the assessments of the Hindu Undivided Family for the assessment years 1950-51 to 1956-57 were completed in accordance with the provisions of the old Act which included Section 25A and the Income Tax officer was, therefore, not entitled to avail of the provision enacted in sub-section (6) read with sub-section (7) of Section 171 of the new Act for the purpose of recovering the tax or any part thereof personally from any members of the joint family including the petitioners." 17. In the present case, we find that prior to introduction of sub-section (3) of Section 18 of the Act in the present....