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2018 (4) TMI 1556 - AT - CustomsInterest of delayed refund - relevant date - appellant claimed interest after expiry of three months from the date of refund application, while Revenue Authorities are denying the same stating that interest is not payable to appellant as refund in sanctioned within three months from the date of Tribunal’s order - Held that:- The law is settled by the Hon’ble Apex Court in the case of M/s Ranbaxy Laboratories Ltd., [2011 (10) TMI 16 - SUPREME COURT OF INDIA], wherein the Apex Court has held that interest liability arises in case of delayed refund and is to be paid after expiry of three months from the date of receipt of refund application, till the sanction of refund - appeal allowed - decided in favor of appellant.
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