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2014 (9) TMI 234 - SC - CustomsPayment of interest to the petitioner - Held that:- It is an admitted fact that a sum of ₹ 85 Lakhs had been paid to the respondent-State when Bank Guarantee was invoked. It is also an admitted fact that the said amount was repaid to the petitioner on 23-7-2011. Thus, the aforesaid amount of ₹ 85 Lakhs was retained by the State for more than 8 years without any justifiable reason. - Looking to the peculiar facts of the case, especially when the respondent-State had retained such a substantial amount belonging to the petitioner with it for more than 8 years, in our opinion, it would be just and appropriate to compensate the petitioner and therefore, we direct that the respondent-State shall pay an amount of ₹ 10,00,000/- (Rupees Ten Lakhs), by way of compensation to the petitioner within three months from today. - Decided in favor of assessee.
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