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2019 (12) TMI 9 - AT - Central ExciseDemand of interest for delayed refund - relevant date for calculation of refund - earlier the amount was deposited towards recovery of refund proceedings - case of appellant is that they are entitled to claim interest from the date of deposit of the amount till its realization as the amount paid by the appellant as was not a duty - whether the appellant is entitled to claim interest from the date of deposit till its realization of the amount? HELD THAT:- The issue decided in the case of M/S. FUJIKAWA POWER AND M/S. KENZO INTERNATIONAL VERSUS CCE & ST, CHANDIGARH-I [2019 (11) TMI 1197 - CESTAT CHANDIGARH] where it was held that the appellants are entitled to claim interest from the date of payment of initial amount till the date its refund @ 12% per annum. Thus, the appellant is entitled to claim the interest on delay refund from the date of deposit till its realization. The interest on the refund shall be payable @ 12% per annum - appeal allowed - decided in favor of appellant.
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