Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2021 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (3) TMI 790 - AT - Central ExciseInterest on delayed refund (already sanctioned) - rate of interest on refund - HELD THAT:- The Hon’ble Jurisdictional Punjab & Haryana High Court in the case of LSE Securities Ltd. [2015 (8) TMI 687 - PUNJAB AND HARYANA HIGH COURT] directed the department to pay interest @ 15% per annum from the date became due after excluding 3 months from the date of passing of order - Further, in the case of Shreewood Products Pvt.Ltd.- [2016 (10) TMI 273 - PUNJAB AND HARYANA HIGH COURT]), again the Hon’ble Jurisdictional High Court has held that the appellant is entitled to payment of interest @ 12% per annum in terms of section 11BB of Central Excise Act, 1944 after 3 months after passing of the order of this Tribunal till the refund was granted. The appellant is entitled to refund @ 12% per annum after 3 months from the date of passing of the order of this Tribunal i.e.19.12.2019 till the refund is granted - Appeal allowed - decided in favor of appellant.
|