2016 (4) TMI 885

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..... mmissioner (AR) ORDER Per Ramesh Nair This appeal is directed against Order-in-Appeal No. SB/71/LTU/MUM/2010 dated 18/5/2010 passed by the Commissioner of Central Excise and Service Tax, LTU, Mumbai whereby Ld. Commissioner (Appeals) rightly allowed the appeal to the extent that the respondent was directed to pay interest on delayed payment of refund at the rate applicable during the period und .....

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..... (A.R.) appearing on behalf of the Revenue reiterates the findings of the impugned order. He submit that there is no statutory provision under the Central Excise Act for grant of interest at the rate of 12%, he submits that the provisions of interest on refund is provided under Section 11BB accordingly the appellant is entitle for the interest only as per the rate prescribed in the notification is .....

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..... o decide the case only as per the statute of Central Excise Act. As regard the 12% interest granted by the Hon'ble Supreme Court, in my view it is under inherent power of the Hon'ble Supreme Court which can not be made precedence and can not be applied in each and every case. Regarding the Circular dated 18/12/2004 the Board has directed to field formation to grant refund of pre-deposit wi .....

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