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2011 (4) TMI 496 - CESTAT, AHEMDABADInterest under Section 28AB - The issue canvassed by the appellant-importer, was that they are entitled for interest @ 12% on delayed refund instead of 6% allowed in the impugned order - notice that appellants deposited amount in September, October and in November 2004, as per the directions of the department. In September 2004, the Hon ble Gujarat High Court had dismissed the SCA was dismissed in September 2004 and SLP was filed in the Hon ble Supreme Court in October 2004. In July 2005, the Hon ble Supreme Court ordered that if the amount directed to be deposited by the Tribunal is deposited, the appeals before the Tribunal has to be restored and decided on merits. In these circumstances, the amount deposited by the appellant is to be treated as pre-deposit since the matter had not attained finality during the relevant period - Therefore, refund is to be treated as refund of pre-deposit made when the appeal was pending - There is no dispute that the amounts deposited is duty but this is not the issue which has been taken into account while precedent decisions have allowed the interest at 12% on the refunds claimed in respect of pre-deposit - Therefore, following the judicial discipline, consider it appropriate that interest in this case also is to be allowed @ 12% - Decided in favour of assessee.
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