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2018 (9) TMI 1080 - CESTAT CHENNAIInterest on delayed refund - EPCG Scheme - N/N. 28/97-Cus dated 01.04.1997 - Held that:- Hon’ble High Court of Karnataka in the case of C.C., Airport & ACC. Bangalore Vs. Pfizer Products India P. Ltd. [2015 (9) TMI 34 - KARNATAKA HIGH COURT] while considering a similar issue, has felt it proper to direct the Department to pay an additional interest at the rate of 9% per annum. The appellant is entitled for interest on refund as claimed but however, the same is subject to conditions of Section 27A and the Notifications issued by the Government - adjudicating authority is therefore directed to ascertain such Notifications available till the date of passing the consequential order and compute the interest at the prescribed rates for the period involved in the case on hand - Appeal allowed by way of remand.
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