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2020 (3) TMI 653 - AT - Central ExciseInterest on delayed refund - relevant time for claiming refund - proviso as introduced under Section 11BB of Central Excise Act, 1944 - HELD THAT:- The issue has been clarified by Hon’ble Apex Court in the case of RANBAXY LABORATORIES LTD. VERSUS UNION OF INDIA AND ORS. [2011 (10) TMI 16 - SUPREME COURT]. In the said case, Hon’ble Apex Court has examined the issue in detail and also examined the C.B.E. & C. Circular dated 1-10-2002 and held that the liability of the revenue to pay interest under Section 11BB of the Act commences from the date of expiry of three months from the date of receipt of application for refund under Section 11B(1) of the Act and not on the expiry of the said period from the date on which order of refund is made. In the present case, the refund claims were filed during the period 7-3-1993 to 28-4-1994. Section 11BB was introduced with effect from 26-8-1995. It is apparent that 3 months have passed from the date of filing refund claim and introduction of Section 11BB - there is a merit in the claim of the appellant that they are entitled for interest with effect from 26-8-1995 onwards till sanction of refund - appeal allowed.
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