2002 (11) TMI 551 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai held that interest is payable to the appellant from 3 months after 1-4-95 at a rate of 15% per annum. The department's appeal for interest from 1-4-1995 was dismissed as the refund claim pending before the assent of the Finance Bill, 1995 is entitled to interest under Section 27A of the Customs Act. The Commissioner (Appeals) order was upheld.