TaxTMI 
TaxTMI 
2002 (6) TMI 46
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Counsel, for the Respondent. [Order per: V.C. Daga, J. (Oral)]. - The petitioner has filed this petition claiming refund of the admitted amount on admitted facts. 2. The entitlement of the petitioner to claim refund is not in dispute. It is an admitted fact that the petitioner was allowed provisional clearance to clear goods on payment of duty, on the enhanced value. On 14th December, 1998, the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of India and claimed refund with interest thereon, at the rate of 24% per annum, from the date of payment till refund thereof. 4. The learned Counsel for the petitioner relied upon the judgment of the Division Bench of this Court in M/s. Goyal Fibres P. Ltd. v. Union of India & Ors. (Writ Petition No. 4016 of 2001) (unreported) dated 11th January, 2002, to which one of us, (Daga, J.), is a party,....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hat the S.L.P. is pending before the Apex Court, especially when no interim relief has been obtained by them inspite of sufficient time which was available with them for obtaining appropriate interim relief. On the contrary, the learned Advocate General appearing for the petitioner, made a statement that when this matter was placed before the Apex Court for hearing in admission matters, the respon....
X X X X Extracts X X X X
X X X X Extracts X X X X
....merce and business. Such deprivation is bound to cause substantial prejudice to it. The petitioner, therefore, is justified in claiming interest for delayed payments. The Apex Court in the case of Life Insurance Corporation of India & Anr. v. Gangadhar Vishwanath Ranade (Dead) by L.Rs., AIR 1990 S.C. 185 ruled that such deprivation has to be compensated in terms of money by awarding interest at a ....