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2015 (1) TMI 1181 - AT - Central ExciseInterest on the delayed payment of refund - Held that:- In the case of ITC - [2004 (12) TMI 90 - SUPREME COURT OF INDIA], the Hon’ble Apex Court held that the amount deposited while considering the stay application as duty and if that is required to be refunded the same should be refunded within three months from the date of application of refund. C.B.E. & C. vide Circular No. 387/5/2001-JC, dated 25-10-2004 held that the application for refund of pre-deposit has to be decided within three months from the date of disposal of the appeal, if not, the interest is payable. Following the above decisions, the learned Commissioner (Appeals) granted interest on the delayed refund. I do agree with the observations made by the learned Commissioner (Appeals) in the impugned order. Therefore, I do not find any infirmity with the impugned order and the same is upheld. - Decided against Revenue.
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