Central Excise - Interest on delayed refund - seizure of cash / currency...

Central Excise

Interest on delayed refund - seizure of cash / currency during search - The Commissioner (Appeals) has committed an error while holding that since there is no provision to grant interest on the seized currency notes while refunding the said currency, the interest from the date of seizure cannot be granted - appellant is held entitled for refund of interest on the principle amount at the rate of 12% from the date of its seizure. - AT

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