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2015 (10) TMI 1031 - AT - Central ExciseClaim of interest under Section 11B read with 11BB of the Central Excise Act for delayed payment of refund - refund of accumulated CENVAT credit - Held that:- The issue is squarely covered by the ruling of the Hon'ble Supreme Court in the case of Ranbaxy Laboratories Limited vs. Union of India - [2011 (10) TMI 16 - Supreme Court of India] delivered vide order dated 21.10.2011 in which it is held that the assessee is entitled to interest on refund from the date on which three months end from the date of application. - The Board reiterated its earlier stand on the applicability of section 11BB of the Act. Significantly, the board has stressed that the provisions of Section 11BB of the Act are attracted automatically on any refund which is sanction beyond a period of three months. - Decided against Revenue.
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