TMI Blog2016 (12) TMI 842X X X X Extracts X X X X X X X X Extracts X X X X ..... refund from the date of receipt of application, the applicant is to be paid interest at the prescribed rate from the date immediately after the expiry of three months from the date of receipt of application till the date of payment of refund . Hon ble Supreme Court in the case of Ranbaxy Laboratories Ltd. Vs. Union of India [2011 (10) TMI 16 - Supreme Court of India] further makes it clear tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the interest for the period from the day of the expiry of three months from the date of filing of the refund application. 2. Revenue has been represented by Ld. A.R., Shri S. Mukhopadhyay and the respondent has been represented by Sri S.P. Siddhanta, Consultant. 3. The matter pertains to the entitlement to the interest for the period after the expiry of three months from the date of filin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r dated-31/01/2013, allowed them the refund of ₹ 7,40,906/- alongwith interest; however, the department granted the refund amount only by Assistant Commissioner s order but did not grant the interest on the same. 6. After careful consideration of the facts on records and the submissions of both sides, it appears that the Revenue is again arguing against payment of interest for the period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t on the amount of refund if it is granted after the expiry of three months from the relevant date i.e. for the period after the expiry of 3 month period, till the date of granting of refund. Hon ble Supreme Court in the said decision has observed as under: 12. Thus, ever since Section 11BB was inserted in the Act with effect from 26th May 1995, the department has maintained a consistent stan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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