TMI Blog2021 (7) TMI 814X X X X Extracts X X X X X X X X Extracts X X X X ..... SUPREME COURT] as well as of the Hon ble Allahabad High Court in the case of HELLO MINERALS WATER (P) LTD. VERSUS UNION OF INDIA [ 2004 (7) TMI 98 - ALLAHABAD HIGH COURT] held that interest is payable from the date of deposit till the date of grant of refund - Further, the Division Bench of this Tribunal in M/S PARLE AGRO PVT. LTD. VERSUS COMMISSIONER OF CENTRAL EXCISE, NOIDA [ 2017 (2) TMI 984 - CESTAT ALLAHABAD] has held that interest is payable @12%, following the ruling of the Hon ble Supreme Court in the case of Sandvik Asia Ltd. The appellant is entitled for interest @12% p.a. from the date of deposit till the date of refund. The order-in-original is restored with the modification in the rate of interest - Appeal allowed - deci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , observed that under the amended Section 35 F read with Section 35 FF, it has been provided that the amount deposited by way of pre-deposit prior to the commencement of Finance (No.2) Act, 2014, shall continue to be governed by the provisions of Section 35 F as it stood before the commencement of the said Amendment Act (6th August, 2014). Admittedly, in this case, pre-deposit was made in the month of March, 2013 prior to the Finance No.2 Act, 2014. Accordingly, appellant/assessee shall be entitled to grant of interest from the date of communication of the final order of this Tribunal till the date of actual refund of pre-deposit. Accordingly, order-in-original sofar as it related to calculation and grant of interest, was quashed and the ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act. It is also instructed in para 26(iii) and (iv) of the said Circular, that even if the Department contemplates appeals against the order impugned, which is in favour of the assessee, refund along with interest would still be payable as per the time limit prescribed in the law or in the order, unless such order is stayed by the Competent Appellate Authority. Reliance was also placed on CBEC Circular No.984/08/2014-CX dated 16.09.2014. Accordingly, ld. Counsel states that there is no error in the order-in-original granting interest from the date of deposit till the date of refund, which is as per the circular of the Board/Government, and the same was binding on the Adjudicating Authority and/other Departmental Officers including the Comm ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
