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2023 (8) TMI 1160 - AT - CustomsInterest on delayed refund at notified rate of interest (6%) to the appellant - enhanced rate of interest disallowed - HELD THAT:- In the case of THE COMMISSIONER OF CUSTOMS AIR PORT AND AIR CARGO COMPLEX, BANGALORE VERSUS M/S PFIZER PRODUCTS INDIA PVT. LTD. [2015 (9) TMI 34 - KARNATAKA HIGH COURT] as well as RANBAXY LABORATORIES LTD. VERSUS UNION OF INDIA AND ORS. [2011 (10) TMI 16 - SUPREME COURT] there was huge delay in granting the refund. The Hon’ble Apex Court had considered all such facts to grant increased rate of interest. The Commissioner (Appeals) has relied on the said cases only to take the view that the appellant is eligible for interest due to delay. This does not mean that an assessee is always eligible for enhanced rate of interest than the notified rate of interest - there are no circumstances in the present case warranting to grant increased rate of interest to the appellant. The decision in the case of M/S BBM IMPEX PVT. LIMITED VERSUS PRINCIPAL COMMISSIONER OF CUSTOMS (PREVENTIVE) , NEW DELHI [2022 (8) TMI 1118 - CESTAT NEW DELHI] is not applicable to the facts of this case as the same is with regard to the refund of pre-deposit. Appeal is dismissed as being devoid of merits.
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