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2021 (12) TMI 337 - AT - Service TaxEntitlement to interest on delayed refund - Section 11BB of Customs Act - revenue deposit - principles of mutuality - HELD THAT:- Once the four companies have become one, by merger, under operation of law w.e.f. 01.01.2015, as per order of the competent Court, the transactions between them during the effective date and the date of order of the competent Court, partake the character of mutuality and hence are no longer taxable by operation of law. Whatever tax is deposited by different companies during the intervening period, ipso facto becomes “Revenue deposit‟. On such Revenue deposit, interest has to be paid in terms of Section 11BB of the Act, from end of three months from the date of refund claim. There is no error in the impugned order-in-appeal - Appeal dismissed - decided against Revenue.
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