TMI Blog2007 (11) TMI 318X X X X Extracts X X X X X X X X Extracts X X X X ..... erest on the amount deposited in the Court, if the amount was invested. - 909 of 2007 - - - Dated:- 29-11-2007 - F.I. Rebello and R.S. Mohite, JJ. [Order]. - P.C. : Rule. Heard forthwith. 2. The petitioner had approached this Court by way of a mandamus to direct the Respondents to forthwith repay the pre-deposited amount with interest thereon as contemplated in the Board's circular da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s under :- "Any amount collected by the revenue as duty on barge charges shall be refunded forthwith to the assessee with statutory interest from the date of payment to the date of refund, which must be within three months from today." The Petitioners are only entitled to statutory interest. The Appeal filed by the petitioners before the Supreme Court being Civil Appeal No. 3972 of 2001 con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upreme Court in Commissioner of Central Excise, Hyderabad v. I.T.C. Ltd., 2005 (179) E.L.T. 15 (S.C.). In that case the Supreme Court considered the draft Circular of CBEC which provided for 12% interest in the matter of delay in refund of the amount of pre-deposit. The draft Circular was made a part of the order and the Appeal was disposed of accordingly. Interest, therefore, payable on pre-depos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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