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2022 (9) TMI 1278 - AT - Central ExciseGrant of interest on the amount deposited during investigation which has subsequently been ordered to be refunded - interest at the rate of 6 per cent under the notification dated 21.08.2014 issued under section 35FF of the Central Excise Act, 1944 - HELD THAT:- The Allahabad High Court in Pace Marketing Specialties v/s Commissioner of Central Excise [2011 (8) TMI 796 - ALLAHABAD HIGH COURT] while granting interest at the rate of 12 per cent had relied upon the decision of the Supreme Court in SANDVIK ASIA LIMITED VERSUS COMMISSIONER OF INCOME-TAX AND OTHERS [2006 (1) TMI 55 - SUPREME COURT] - the view taken by the Allahabad in Pace Marketing is followed by the Division Bench of the Tribunal in M/S. PARLE AGRO PVT. LTD. VERSUS COMMISSIONER, CENTRAL GOODS & SERVICE TAX, NOIDA (VICE-VERSA) [2021 (5) TMI 870 - CESTAT ALLAHABAD]. The appellant would, therefore, be entitled to interest at the rate of 12 per cent instead of 6 per cent from the date of deposit till the date of payment - appeal allowed - decided in favor of appellant.
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