9911796707
|
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 159 - AT - Central ExciseInterest on refund - refund was sanctioned to the appellants and transferred to Consumer Welfare Fund - case of Revenue is that no interest would be payable if the amount was lying in Consumer Welfare Fund and not with Revenue - Held that - similar issue decided in the case of PURNIMA ADVERTISING AGENCY PVT. LTD. AND 1 Versus UNION OF INDIA THROUGH SECRETARY AND 2 2016 (4) TMI 291 - GUJARAT HIGH COURT , where it was held that the petitioner is entitled to interest from 24.04.2005 till the actual payment i.e. upto 10.03.2010 and the Tribunal was, not justified in holding that from the date of transferring the sum to the Consumer Welfare Fund, the petitioner was not entitled to payment of interest on the refund amount - interest allowed - appeal dismissed - decided against Revenue.
Issues:
Appeal against grant of interest on refund sanctioned to appellants. Analysis: The appeal was filed by revenue against the interest granted by Commissioner (Appeals) on the refund sanctioned to the appellants. The revenue contended that the refund was initially transferred to the Consumer Welfare Fund and later allowed following a Tribunal decision. The revenue relied on a High Court decision stating that no interest would be payable if the amount was in the Consumer Welfare Fund. However, the respondents cited an Apex Court decision and other High Court decisions to support their claim for interest on the refund. The Tribunal examined the submissions and noted that the revenue's appeal was based on the High Court decision, which was superseded by the Apex Court's ruling in a similar case. The Tribunal referenced a case involving refund application and Consumer Welfare Fund transfer, where the appellant won in the Tribunal after appealing the initial order. The Tribunal concluded that the appellant was entitled to interest from three months after the refund application until the refund amount was sanctioned. It emphasized the Apex Court's decision as the applicable law in this scenario, dismissing the revenue's appeal based on the settled legal position. Therefore, the Tribunal dismissed the appeal of the revenue, ruling in favor of the appellants. The decision was pronounced in court on 29/11/17.
|
