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2018 (6) TMI 48 - AT - CustomsInterest on delayed Refund - finalization of assessment not done within time frame - litigation pending before various forums for entire period till finalization of assessment - contention of the appellant is that there has been inordinate delay in finalizing the assessment and granting refund which resulted in withholding of legitimate amount causing monetary loss and hardships to the appellant which has to be compensated by way of paying interest on the sanctioned refund. Held that:- On facts, it is brought out that the refund has been sanctioned within three months from the date of finalization of provisional assessment - Section 18(4) provides to pay interest only when the refund is delayed beyond three months after finalization of assessment. For the entire period till the finalization of assessment, there were litigations pending before various forums and after the finalization of assessment, refund has been sanctioned within a period of three months. When the statute does not provide to pay interest, the Tribunal which is a creature of the statute cannot grant any amount in the nature of compensation. The claim of the appellant for interest on delayed refund cannot sustain - appeal dismissed - decided against appellant.
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