TMI BlogRefusal of grant of interest on the amount deposited during investigation, which was subsequently found...Refusal of grant of interest on the amount deposited during investigation, which was subsequently found to be refundable - The Tribunal found that the amount deposited during investigation took the character of revenue deposit. Considering similar precedents and the compensatory nature of interest, the Tribunal allowed interest at a rate of 6% per annum from the date of deposit till the date of refund. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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