Home Case Index All Cases Central Excise Central Excise + HC Central Excise - 2011 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (8) TMI 796 - HC - Central ExciseInterest of bank guarantee encashed earlier - Held that:- in this case initially the bank guarantee so furnished, was not a duty deposit in advance, but a security - After the appeal against assessment was allowed by the appellate tribunal, the amount which was directed to be refunded and which was so refunded to the appellant, would attract interest under Section 11BB after a period of three months from the date of receipt of the application under sub-section 1 of Section 11B of the Act - Decided in favor of the assessee by way of direction that on the refunded amount, the appellant will be entitled to interest @ 12% p.m., after three months from the date of receipt of the application
|