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2014 (7) TMI 1232 - AT - Central ExciseInterest on delayed refund - whether the respondent is entitled to get the interest for the period of delay in late sanction of the refund amount? - Held that: - On a conjoint reading of Sections 11B and 11BB of the Act (discussed supra), it transpires that once an order is passed by the competent Central Excise authorities pursuant to the refund application filed by the applicant, then the refund shall be paid forthwith within a period of three months; and if claimed amount is not paid within such stipulated time frame, then under the statutory obligations, the authorities are required to pay interest on the refund amount paid belatedly. The time limit for payment of the refund amount to the respondent by the Central Excise authorities (without interest) expired on 18-6-1998. Since, claimed amount was finally paid to the respondent on 22-8-2005, the respondent is entitled for the statutory interest from 19-6-1998 to the date when the refund was eventually paid, i.e., 22-8-2005 Appeal rejected - decided against Revenue.
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