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2013 (4) TMI 282 - BOMBAY HIGH COURTInterest on refund excess sale proceeds - Refund of balance after adjustment of expenses and charges U/s 150 of the Customs Act, 1962 - Held that:- It can be no defence to urge that the Customs Act, 1962 provides for the payment of interest only in respect of a refund of duty and interest and hence the Petitioner would not be entitled to interest on the balance of the sale proceeds which were directed to be paid by the Settlement Commission. The Petitioner has been deprived of a refund of its monies legitimately due to him in pursuance of an order of the Settlement Commission. There is absolutely no reason or justification for the unexplained delay. Hence, in exercise of the jurisdiction of this Court under Article 226 of the Constitution, an order awarding the payment of interest would be necessary. Interest allowed at the rate of 9%, revenue directed to pay the interest within a period of eight weeks.
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