Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

M/s Shreewood Products Pvt. Ltd. Versus Commissioner of Central Excise

2016 (10) TMI 273 - PUNJAB AND HARYANA HIGH COURT

Entitlement of interest w.e.f. 21.8.2008 on refund - whether @12% or 6% in terms of Section 11BB of the Act - amount of pre-deposit made by the assessee - amount is not refunded within three months from the date of passing of the order - Held that:- part of the amount, was refunded to the appellant in January, 2009, whereas remaining part of the amount was refunded in April, 2009. As per the circular of the Government of India, Ministry of Finance No. 275/37/2K-CX.8A dated 2.1.2002, in case the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

(12) TMI 90 - SUPREME COURT OF INDIA] allowed the refund along with interest @ 12% per annum. Therefore, the appellant herein is entitled to payment of interest @ 12% per annum for the period after three months till the refund was granted after passing of the order by the Tribunal on 2.5.2008. - Appeal disposed of - Central Excise Appeal No. 37 of 2015 (O&M) - Dated:- 27-7-2016 - MR. RAJESH BINDAL AND MR. HARINDER SINGH SIDHU JJ. Mr. Jagmohan Bansal, Advocate for the Appellant. Mr. Tajender K. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ct ? (iii) Whether the findings of learned Tribunal are perverse and contrary to the record ? 2. Learned counsel for the appellant submitted that the appellant is engaged in the manufacture of plywood, block boards, flush doors and penal doors. The respondent issued show cause notice to the appellant on 24.2.1997 proposing to levy excise duty and penalty for the period from March, 1992 to March, 1996. The adjudicating authority, vide Order-in- Original dated 11.11.2005 confirmed the amount of du .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

,92,95,372/-. On deposit thereof, the appeal of the appellant was restored by the Tribunal and heard on merits. Vide order dated 2.5.2008, the appeal preferred by the appellant was allowed by the Tribunal. The demand was set aside and the matter was remitted back to be disposed of in terms of the directions issued. As the order was set aside, the appellant became entitled to refund of the amount deposited by it. A request to that effect was made by the appellant vide letter dated 22.5.2008, howe .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

application for refund of the amount along with interest thereon was dealt with by the Assistant Commissioner by passing the Order-in-Appeal on 13.1.2009 after appropriating part of the amount against demand raised vide order dated 17.10.2008. ₹ 88,72,686/- were directed to be credited to Consumer Welfare Fund and refund of ₹ 76,44,080/- was directed. The appellant preferred appeal. The Commissioner (Appeals), vide order dated 17.3.2009 accepted the appeal filed by the appellant and .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ppeal before the Tribunal, which was dismissed vide order dated 14.1.2015 declining the relief of interest. 3. Learned counsel for the appellant submitted that the issue regarding entitlement of interest on the amount of pre-deposit made by the assessee after decision of the case came up for consideration before Hon'ble the Supreme Court in Commissioner of Central Excise, Hyderabad v. I.T.C. Ltd., 2005 (179) ELT 15 (SC). The appeals were disposed of by Hon'ble the Supreme Court taking in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

on Bench judgment of this court in CWP No. 22541 of 2012- M/s LSE Securities Ltd. v. Assistant Commissioner, Service Tax Division, Chandigarh, decided on 6.5.2014, where interest @ 15% per annum was directed to be paid for the period after three months from the date the refund became due. Reference was also made to another Division Bench judgment of this Court in CWP No. 16213 of 2014-Haryana Vanaspati & General Mill v. The State of Haryana and another, decided on 7.8.2015, where under the H .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

was entitled to interest for the period beyond three months from the date of passing of the order of the Tribunal @ 12% per annum, as awarded by Hon'ble the Supreme Court in I.T.C. Ltd.'s case (supra). 4. On the other hand, learned counsel for the respondent submitted that as is evident from the order passed by the Tribunal, the application for refund was filed on 21.10.2008 and partially the amount was refunded within three months thereof, as for part of the amount there was dispute. Wh .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version