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2022 (3) TMI 801 - AT - Central ExciseRejection of interest at 12% on delayed refund - appellant failed to place on record any statutory provisions in support of the claims - whether the appellant are entitled to claim interest @ 12% of the deposit made during the period of investigation till its realization? - HELD THAT:- The said issue was allowed in favour of the appellants, inadvertently the rate of interest could not be quoted in the said order. The issue of rate of interest has been decided in the earlier round of litigation, therefore, the appellants are entitled to claim the interest @ 12% from the date of deposit on its realization. As the deposit were made by the appellants under protest, the decisions relied on by the ld.AR are not applicable to the facts of the case in hand. The issue in this case is whether the appellant is entitled to claim interest @12% on delayed refund till its realization has been examined by this Tribunal in the case of M/S. PARLE AGRO PVT. LTD. VERSUS COMMISSIONER, CENTRAL GOODS & SERVICE TAX, NOIDA (VICE-VERSA) [2021 (5) TMI 870 - CESTAT ALLAHABAD] wherein this Tribunal has held that the rate of interest varies from 6% to 18% in the aforesaid Notifications issued under sections 11AA, 11BB, 11DD and 11AB of the Excise Act, the grant of interest @12% per annum seems to be appropriate. Thus, the appellants are entitled to claim interest @ 12% per annum of deposit made during the investigation till its realization - appeal allowed - decided in favor of appellant.
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