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2022 (3) TMI 5 - AT - Central ExciseEntitlement of interest on delayed refund of pre-deposit - time limitation - from the date of pre-deposit till the date of refund of the principal amount or otherwise? - HELD THAT:- Admittedly, the amount under dispute was deposited as a pre-deposit within the meaning of Section 35 F. Further, I find that in the preceding order of this Bench in the case of M/S J.K. CEMENT WORKS VERSUS COMMISSIONER, CENTRAL EXCISE, CENTRAL GOODS AND SERVICE TAX, UDAIPUR [2021 (3) TMI 123 - CESTAT NEW DELHI], it has been held that the interest on the refund shall be payable @ 12% per annum, as held by Hon'ble Kerala High Court in the case of SONY PICTURES NETWORKS INDIA PVT. LTD. VERSUS THE UNION OF INDIA, THE COMMISSIONER OF CUSTOMS AND CENTRAL EXCISE, THE ASSISTANT COMMISSIONER OF CUSTOMS, THIRUVANANTHAPURAM [2017 (5) TMI 864 - KERALA HIGH COURT], wherein it was held that the appellants are entitled to claim interest from the date of payment of initial amount till the date its refund @ 12% per annum. This appeal is allowed and the impugned order is set aside, so far the interest claim has been disallowed. The Adjudicating Authority is directed to grant interest from the date of deposit (31.03.2006) till the date of grant of refund @12% p.a. Such interest on refund should be granted within a period of 60 days from the date of receipt of, or service of a copy of this order - appeal allowed.
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