TaxTMI 
TaxTMI 
2026 (7) TMI 1565
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....ied under Customs Tariff Heading 2902.44.00 of the Customs Tariff Act 1975, which it purchased on the high seas. The bill of entry for warehousing was filed and assessed, and the goods were warehoused. The said assessment orders were not challenged, and goods were allowed to be warehoused, and thereafter the appellant filed an ex-bond bill of Entry. Upon payment of the duty, the goods were released for home consumption. The goods were imported and cleared between the years 2011 and 2014. 1.1. Thereafter, the officers of DRI Delhi initiated an investigation into the classification of goods being xylene isomers, which, according to the officers of the department, should be properly classified under the Customs Tariff reading 2707. There wa....
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....Kolkata), wherein while refunding the amount deposited during investigation, interest at the rate of 12% per annum was directed to be paid for the delayed refund. The Appellant submits that the decision of the Hon'ble Calcutta High Court in the case of Rajendra Kumar Jain Vs Commissioner of Customs (Port), Kolkata & Others, wherein vide order dated 09.05.2024, the Hon'ble High Court has categorically held that interest @12% is payable on such cases. Accordingly, the Appellant prayed for granting interest @12% and allow their appeal. 3. The Ld. Authorized Representative reiterated the findings in the impugned order. The Ld. Authorized Representative submits that the amount deposited has been refunded along with 6% interest. The Ld. A.R su....
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....the order passed by the Hon'ble High Court is reproduced below: 9. Learned senior standing counsel for the respondents now states that the Government of India, Ministry of Finance (Department of Revenue), New Delhi has issued a notification No. 70/2014/Customs (N.T.) dated 12.08.2014 in exercise of powers conferred under Section 129EE of the Customs Act, 1962 fixing the rate of interest @ 6% per annum for the purposes of the said Section and, therefore, the same rate of interest is applicable. We do not find any substance in this submission of learned senior standing counsel for the respondents. Reason is that the said notification is dated 12.08.2014. The rate of interest on delayed refund of pre-deposit shall be governed by the l....
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....ce of conflicting decisions of High Courts has been considered in M/s. Atma Steels P. Ltd. and others v. Collector of Central Excise, Chandigarh reported in l984 (17) E.L.T. 331 wherein the Larger Bench consisting of five Members held that, in view of its All India jurisdiction and peculiar features, the Tribunal cannot be held bound to the view of any one of the High Courts, but has the judicial freedom, to consider the conflicting views, reflected by different High Courts, and adopt the one considered more appropriate to the facts of a given case before the Tribunal. The Tribunal also indicated that this should be so, irrespective of the fact whether one particular assessee was within the jurisdiction of a specified High Court or the orig....
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....h Court has taken a particular view on interpretation or proposition of law, that view has to be followed in cases within such jurisdiction. If the jurisdictional High Court has not expressed any view in regard to the subject matter and there is conflict of views among other High Courts, then the Tribunal will be free to formulate its own view in the light of Atma Steels P. Ltd. case; however, there is a decision of only one High Court in regard to disputed interpretation or proposition of law, the Tribunal is bound to follow that order since it is not at liberty to disregard the solitary High Court decision." Thus, respectfully following the decision of the Larger Bench, we hold that the decision of the Hon'ble Calcutta High Court dated....