Deposit during pendency of appeal – Customs ordered to pay Rs. 9.5 Crores interest – Supreme Court
Overzealous Revenue officers are known to pressurise the assessees into paying up the duty, what they think is payable, even before a proper Show cause Notice is given. Trigger happy Preventive and Audit parties gloat about the voluntary deposits and spot realisations. Even when appeals are pending all kinds of illegal means are used to persuade the assessees to pay up disputed amounts. This may not always be good for Revenue. In a Supreme Court case we are reporting today, the Apex Court has ordered Revenue to pay a whopping 9.5 Crores as interest to ONGC.