HC rules out leviability of
interest on delayed payment of Cess on Crude Oil, absent substantive provision
obliging assessee to do so under Oil Industry (Development) Act 1974; Rejects
Revenue’s stand that interest was applicable in terms of Section 15(4) of said
Act, which adopts the provisions of Central Excise Act and rules thereunder in
relation to levy and collection of excise duties; Confirming CESTAT’s view, HC
refers to SC ruling in India Carbon Ltd wherein it was held that interest on
tax due could be charged only when the taxing statute made a substantive
provision to pay interest for delayed payment of tax and not otherwise :
Gauhati HC
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