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2013 (7) TMI 721 - BOMBAY HIGH COURTInterest on pre- deposit - whether interest can in law be directed to be paid on a delayed refund of a pre deposit made before the CESTAT during the pendency of an appeal – Held that:- Court directed the revenue to pay interest to the assessee on the refund of the amounts of pre-deposit until payment of pre-deposit was effected at the rate stipulated in the relevant notification issued under Section 27-A of the Customs Act, 1962 - Pre-deposits must be returned within three months from the date of the order passed by the Appellate Tribunal or court unless there was a stay on the order by a superior court and that the Board had decided to implement CESTAT orders already passed for payment of interest in compliance of which interest payable would be paid forthwith - In CCE, Hyderabad Vs. I.T.C. Limited (2004 (12) TMI 90 - SUPREME COURT OF INDIA ) - Section 27-A applies to a claim of refund of duty or interest and does not specifically refer to the payment of interest on a refund of penalty or on pre-deposit effected before the Appellate Tribunal or before the appellate authority – appeal decided in favour of assessee.
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