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2022 (1) TMI 201 - AT - Central ExciseEntitlement to to interest on the amount deposited by it during the investigation, consequent to dropping of the entire demand - relevant time for calculation of interest - HELD THAT:- Division Bench of this Tribunal in M/S. PARLE AGRO PVT. LTD. VERSUS COMMISSIONER, CENTRAL GOODS & SERVICE TAX, NOIDA (VICE-VERSA) [2021 (5) TMI 870 - CESTAT ALLAHABAD], following the ruling of the Apex Court in SANDVIK ASIA LIMITED VERSUS COMMISSIONER OF INCOME-TAX AND OTHERS [2006 (1) TMI 55 - SUPREME COURT] has been pleased to grant interest @ 12% p.a. from the date of deposit till the date of grant of refund, with reference to Section 35FF of the Central Excise Act. The Court below is directed to disburse the interest on refund @ 12% p.a. from the date of deposit till the date of refund within a period of 45 days from the date of receipt or service of the copy of this order - Appeal allowed - decided in favor of appellant.
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