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2022 (4) TMI 560 - AT - Central ExciseInterest on delayed refund of excise duty - calculation of payment of interest - to be calculated for a period of 35 days i.e. period after expiry of three months from the date of communication of the order of the Tribunal dated 22.10.2020, till the date of refund i.e. 24.03.2021 or from the date of making deposit as was claimed by the Appellant throughout the adjudication as well the appellate proceedings? - rate of interest - HELD THAT:- It is found from the facts of the case that it is not in dispute that the Appellant had deposited the amounts as refunded during investigation proceedings which was later on set aside by this Tribunal in part leading to the captioned refund of duty. The Coordinate Bench of the 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] has held that interest shall be granted to the appellant @12% instead of @6% from the date of deposit till the date of payment. Thus, the Appellant is entitled to interest @ 12% from the date of deposit till the date of receipt of such refund - the lower authorities are directed to compute the eligible interest and pay the same within four weeks from the date of communication of this order - appeal allowed - decided in favor of appellant.
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