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2021 (7) TMI 176 - HC - CustomsEntitlement of interest on pre-deposit - whether the appellant is entitled to interest on pre-deposit under section 129EE of Customs Act - HELD THAT:- While the original provision stipulated interest would be payable at a rate specified in Section 27A after expiry of three months from the date of communication of the order of the appellate authority, till the date of refund of such amount, the substituted provision provided for interest at a notified rate not below 5 per cent and not exceeding 36 per cent from the date of payment till the date of refund of such amount. Moreover, the proviso to the substituted provision clarified that all amounts deposited under Section 129E prior to the commencement of the substituted provision on and from 2014 would be guided by pre-amended section 129EE. The interest on the pre-deposit refunded to the appellant is to be determined as pre amended Section 129EE of the Customs Act i.e., for a period commencing after expiry of three (3) months from the date of communication of the order of the appellate authority till the refund of such amount and not from the date of deposit of the said amount till the date of refund. Appeal dismissed.
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