Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2010 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (12) TMI 162 - CESTAT, BANGALORERefund - The appellant cleared the goods by paying duty at 60% advalorem instead of at 42% advalorem – Initially refund was sanctioned – Tribunal ordered against the assesee Interest - In the case of Divis Laboratories Ltd. Vs. CC & CE (A-III), Hyderabad - (2009 -TMI - 75106 - CESTAT, BANGALORE) had taken a view that the assessee is liable to pay interest under Section 11AB for the erroneous refund till the date of the amount paid back to the revenue - A combined reading of Section 11A(2B) and Section 11AB(1) makes it abundantly clear that even when the assessee voluntarily pays the erroneous sanctioned refund, he is liable to pay interest in terms of Section 11AB – Appeal is rejected
|