Home Case Index All Cases Customs Customs + HC Customs - 2017 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (9) TMI 947 - HC - CustomsInterest on delayed payment - whether the petitioner is entitled to the interest at least from the date when the appeal was dismissed? - Held that: - the clock stopped ticking at the time when the stay was granted by the Division Bench but ultimately the appeal was dismissed by the Division Bench on 30.09.2013 upholding the order of the learned Single Judge and the respondents to the reasons best known to them did not assail the validity of the order of the Division Bench any further. From that period onwards, the legitimate expectation of the petitioner started for getting refund but the respondents did not refund the money till 20.03.2014. For six months continuously, the amount which belongs to the petitioner was used by the respondents. Had this amount been returned immediately after dismissal of the appeal and the petitioner had invested the said amount then the petition would definitely got some kind of return which may be assessed in terms of interest. The petitioner is entitled to interest @ 12% to be paid on the amount refunded to the petitioner, to be calculated from 30.09.2013 to 20.03.2014 on ₹ 3.95 crores and from 30.09.2013 to 09.06.2014 to be calculated on ₹ 5 lakhs - decided in favor of petitioner.
|