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2018 (6) TMI 184 - AT - Central ExciseRefund of interest recovered from Revenue - Non-issuance of SCN - Kar Vivad Samadhan Scheme, 1998 (KVSS) - Levy of additional duty of excise(goods of special importance) - rejection of KVSS application on the grounds that the declaration filed is not against any SCN issued prior to 31.03.1998 - entire case is based on the interpretation of the Hon’ble Supreme Court order in the respondent’s case M/S. SHARDA SYNTHETICS LTD. VERSUS UNION OF INDIA & ORS. [2015 (11) TMI 604 - SUPREME COURT] which was passed with reference to application filed under the KVSS 1998. Held that:- The Hon’ble Supreme Court has very consciously held that Revenue recovered the entire amount by encashing bank guarantee on 13-10-2013 in view thereof it is not necessary to go into issue and we are of the opinion that having regard to the peculiar facts of this case and also that the appellant has some arguable case on merit interest of justice would be sub-served if no interest is demanded. The conclusion of the entire findings is that entire demand of interest was set aside. Even if overall circumstances are observed it is seen that whole case is based on the application made in KVSS 1998. As per the KVSS the 50% of duty, interest and penalty are liable to be waived as immunity provided under the scheme. The respondent is clearly eligible for the refund of interest recovered by the Revenue for ₹ 48,05,753/- - appeal dismissed - decided against Revenue.
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