2002 (11) TMI 494 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai held that interest is payable to the appellant from three months after 1-4-95 at a rate of 15% per annum as per Notification No. 22/95. The department's appeal for interest from 1-4-1995 was dismissed, confirming that interest is applicable even on pending refund claims filed before the assent of the Finance Bill, 1995.