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Bajaj Auto Ltd. Versus Commissioner of Central Excise And Customs, LTU-Mumbai

2016 (4) TMI 885 - CESTAT MUMBAI

Claim of interest at the rate of 12% - Delayed sanctioned of refund of pre-deposit - Appellant contended that Hon'ble Supreme Court has allowed the 12% interest as per the judgment of ITC - Held that:- only provision granting interest on delayed refund is provided under Section 11BB of Central excise Act, 1944 therefore interest shall be payable as per the rate prescribed under Section 11BB. Tribunal is creature under the Central Excise Act therefore has limited power to decide the case only as .....

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prescribe the rate which is otherwise provided under Section 11BB and notification issued thereunder. Therefore the order passed by the Ld. Commissioner (Appeals) is proper and legal which does not require any interference hence the same is upheld. However since the Ld Commissioner (Appeals) has already allowed the interest at the rate of 8%/6% depending upon the period, the Adjudicating Authority shall grant interest as ordered by the Commissioner(Appeals). - Decided against the appellant - Ap .....

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est on delayed payment of refund at the rate applicable during the period under reference as per notification issued under 11BB of the Central Excise Act. The appellant had claimed interest on delayed sanctioned of refund of pre-deposit at the rate of 12%. 2. Shri. U.K. Godbole, General Manager (Indirect Tax) of the appellant company submits that in the Hon'ble Supreme Court judgment in the case of CCE vs. ITC [2005(179) ELT 15 (S.C.)] Hon'ble Court has allowed the 12% interest on delaye .....

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y 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 issued under Section 11BB from time to time, accordingly Ld. Commissioner (Appeals) has rightly allowed the interest at the rate of 8%/6% prevailing during the relevant period. 4. I have carefully considered the submissions mad .....

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