Constitution of India – Article 226 – Court cannot waive the payment of interest, which is statutory. Such relief, if at all it can be granted, will be a relief in equity – Equity cannot operate against statutory law.
Customs Act – Interest under the Customs Act is statutory. There can be no waiver of such interest unless such waiver is provided for in the provisions of the Customs Act itself.
Customs Act – the failure on the part of the statutory authority to exercise power vested in it cannot automatically result in an order that the petitioner should be relieved from the payment of interest for any period of unreasonable delay in exercise of statutory power.
Citations : 2021 (5) KCC 5