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2014 (9) TMI 847 - AT - Central ExciseInterest on refund - Whether interest on the refund of unutilized credit for the period of delay is payable in terms of the provisions of Section 11BB - Held that:- Though the judgment is silent about the rate of interest, the learned Counsel for the appellant states that the interest had earlier been paid @ 6% and in terms of the notification issued under Section 11BB also, the rate of interest is the same. As regards the date of filing of refund claim and the date from which the interest liability will start, the order dated 09/02/09 of the Tribunal mentions the dates of filing of these refund claims as 04/02/03 and 11/02/03. However, the learned DR pleads that as has been held by the Commissioner (Appeals), these refund claims had been resubmitted on 26/06/04 and 24/06/04 and it is the latter dates which should be treated as the dates of filing of refund claims and Department’s interest liability will start only after expiry of the period of three months of both dates. On this point, I find that when originally the refund claims had been filed on 04/02/2003 and 11/02/2003, even if the same were resubmitted on 26/06/04 and 24/06/04 consequent to the order of the Commissioner, it is the former dates i.e. 04/02/03 and 11/02/03 which have to be treated as the dates of filing of refund claims and interest liability will be start from the dates on which the three months period from which these dates expired. The impugned order, therefore, is set aside - Decided in favour of assessee.
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