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2022 (8) TMI 926 - AT - Central ExciseAllowance of proper interest under Section 35FF of Central Excise Act - HELD THAT:- Division Bench of this Tribunal in Parle Agro Limited [2021 (5) TMI 870 - CESTAT ALLAHABAD], wherein the amount was deposited during the stage of investigation/audit, this Tribunal have held that on being successful in appeal, interest is allowable under Section 35FF from the date of deposit till the date of refund. Further, following the ruling of the Apex Court in the case Sandvik Asia Ltd. [2006 (1) TMI 55 - SUPREME COURT], it has been held that interest shall be payable @ 12% p.a. Further, Single Member Bench of this Tribunal in the case of Riba Textiles Ltd vs. CCE & S.T., [2020 (2) TMI 602 - CESTAT CHANDIGARH] have also granted interest @ 12% p.a. under Section 35FF. The impugned order(s) modified to the effect that the appellant shall be entitled to interest under Section 35 FF @ of 12% p.a. from the date of deposit till the date of grant of refund - the Adjudicating Authority is directed to grant the balance amount of interest as modified herein within 45 days of receipt or service of this order. Appeal allowed.
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