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2017 (10) TMI 1115 - AT - Central ExciseInterest on delayed refund - whether interest on delayed refund is payable during the period between expiry of three months from the date of filing the refund application for the principal amount, till its refund; or, from the date, when the principal amount was paid by the applicant? - Held that: - the issue with regard to computation of the period for payment of the interest amount is no more res Integra, in view of the judgment of Hon’ble Supreme Court in the case of Shreeji Colour Chem Industries [2008 (9) TMI 12 - SUPREME COURT], wherein it has been ruled that payment of interest has to be made in accordance with Section 11BB ibid, from the date of expiry of three months from refund application, till the date of its refund. In the present case, since the Tribunal is entertaining and disposing the appeal filed under the Central Excise statute, the provisions contained in the statute alone has to be considered for deciding the issue involved in the appeal. On perusal of the said statutory provisions, it reveals that other than Section 11BB ibid, no other provision exists in the Central Excise statute, dealing with payment of interest from the date of actual deposit of the disputed amount. Thus, such interpretation placed by the appellant cannot be accepted, in absence of any statutory mandates. The appellant is only entitled for interest for delay of 25 days in sanction of refund amount - appeal dismissed - decided against appellant.
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