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2013 (6) TMI 579 - AT - Central ExciseInterest on Refund - price escalation clause - Provisional assessment - supply of LPG cylinders to IOCL, BPCL and HPCL - Held that:- The claim for refund dates back to 26-6-2006, which is the date on which they claimed refund on the basis of the order dated 12-6-2006 of the Commissioner (Appeals), who had directed sanction of Rs. 4,36,364/- to the assessees by setting aside the direction of the adjudicating authority for credit of the above mentioned amount to the Consumer Welfare Fund. It is not for the first time that the assessees claimed refund of the amount in question only in September, 2008, since claim for the amount ultimately sanctioned although reduced, was filed in 2006 June itself. It is clear that there has been a delay in sanction of the refund in December, 2008, well beyond the statutory period of three months. Therefore, the assessees claimed for interest at the appropriate rate due to the delay in sanction of the refund merits acceptance. The assessees are held to be eligible to interest after the expiry of three months from 26-6-2006 till the date of payment of interest at the appropriate rate. - Decided in favor of assessee.
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