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2016 (6) TMI 612 - AT - Central ExciseInterest on refund - Held that:- There is a time gap between the refund received and paying back thereof to the Treasury. Learned Adjudicating Authority is directed to realise interest for the time gap due to availing of public money by the appellant and appropriate notice be issued in that regard upon calculation for recovery. Adjudicating Authority is directed to conduct an enquiry within 15 days of receipt of this order on the basis of material available on record as well as seeking co-operation of the appellant. On the basis of the outcome of the enquiry confronting the result thereof, the Authority shall pass appropriate order. It is expected that the whole process is completed by the end of June, 2016.
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