1. The revenue has preferred this appeal by challenging the order dated 9.10.2006 passed in Final Order No. 1723/2006 by CESTAT at Bangalore, by raising the following substantial questions of law:

i) Whether the provisions for interest on delayed payment contained in Section 11AB are applicable only for duty determined under Sub-section (2) of Section 11A or also for duty which has been paid under Section 11A of the Central Excise Act, 1944?

ii) Whether an assessee is liable to pay interest when he pays the duty because of subsequent refixation of prices through supplementary invoices, from the date of clearance of the goods?

iii) Whether the Hon'ble CESTAT Bangalore has right in law, granting immunity from penalty to the respondent?

2. The facts leading to the filing of this appeal are that, the respondent-assessee which is a manufacturer of heavy electrical goods had cleared the goods on payment of duty at 16 % as prescribed while discharging the duty liability. The respondent had been paying the duty in terms of the value arrived at on the date of payment of duty. However, the appellant, by contending that there was a delay in payment of duty on account of variation in price