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2012 (9) TMI 114 - AT - CustomsInterest on refund - refund claim was admitted and sanctioned to the appellant but was credited to Consumer Welfare Fund - Held that:- As the reckoning of the period for the purpose of payment of interest under Section 11BB of the Act is concerned the liability of the revenue to pay interest commences from the date of expiry of three months from the date of receipt of application for refund under Section 11B(1) and not on the expiry of the said period from the date on which order of refund is made - Thus the appellant is eligible for the interest from three months after the date of filing of the refund application till the amount of refund is sanctioned to him - in favour of assessee.
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