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2023 (4) TMI 1146 - CESTAT NEW DELHIGrant of interest on the amount of bank guarantee, which was wrongly encashed by the Customs Department - HELD THAT:- The Revenue have encashed the bank guarantee for Rs.9,78,291/- on 17.05.2012, which matter already stands adjudicated vide order-in-original dated 18.06.2014, wherein it has been held that the appellant have completed the re-export obligations on 31.03.2012 and no amount was required to be recovered from them, upon issue of the show cause notice in May, 2012. Further, the said order-in-original dated 18.06.2014 has attained finality. Under the aforementioned facts and circumstances, it is held that the amount encashed by way of bank guarantee remained with the Revenue as deposit and accordingly with the meaning of Section 129 EE, the appellant is entitled to interest on refund from the date of deposit till the date of refund @6% p.a. Appeal allowed.
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