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2022 (6) TMI 704 - Central Excise
Head Note / Extract:
Entitlement to interest on the amount collected during investigation - amount was paid under protest - Section 35FF of the Central Excise Act - HELD THAT:- The appellant is entitled to interest from the date of deposit or date of encashment of the cheque, till the date of grant of refund - The appellant is entitled to interest on refund @ 12% p.a., as held 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] following the ruling of the Apex Court in the case of SANDVIK ASIA LIMITED VERSUS COMMISSIONER OF INCOME-TAX AND OTHERS [2006 (1) TMI 55 - SUPREME COURT]. The Adjudicating Authority is directed to grant balance amount of interest @ 12% per annum within a period of 45 days from the date of receipt of a copy of this order - appeal allowed - decided in favor of appellant.