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2024 (1) TMI 36 - AT - Central ExciseDemand of interest from the date of deposit during the investigation till its realization. The appellant insisted the decision of this Tribunal in the case of M/s Green Valley Industries Limited 2022 (4) TMI 560 - CESTAT KOLKATA pressing that this Tribunal itself has given the interest from the date of deposit till its realization in similar set of facts - Revenue relied on the decision of the Hon ble Apex Court in the case of Willowood Chemicals Private Limited 2022 (4) TMI 980 - SUPREME COURT , submits that the interest is entitled after three months from the date of filing of refund claim till its realization. HELD THAT - Tthe said decision was not available before this Tribunal while dealing with the case of M/s Green Valley Industries Limited - The order of the case of M/s Green Valley Industries Limited 2022 (4) TMI 560 - CESTAT KOLKATA was passed on 11.04.2022 whereas the decision of the Hon ble Apex Court in the case of Willowood Chemicals Private Limited is dated on 19.04.2022. It is required to follow the decision of the Hon ble Apex Court in the case of Willowood Chemicals Private Limited - the interest is allowed to the appellant after three months from the date of filing of refund i.e. 25.10.2013 till its realization i.e. 04.11.2015 - appeal disposed off.
Issues involved: Appeal against the order demanding interest from the date of deposit during investigation till realization.
The appellant made a deposit of Rs.24,76,172 during the investigation in 1996. Subsequently, a show-cause notice was issued, and duty was demanded, which was confirmed after adjudication. The matter was then appealed before the Tribunal, remanded back to the adjudicating authority, who confirmed a part of the demand along with interest and imposed a penalty. After the adjudication order, the appellant filed a refund claim for the excess amount paid during the investigation on 25.10.2013. The refund was granted on 04.11.2015, without any interest being provided to the appellant. The appellant, in this appeal, sought interest from the date of deposit till realization. The appellant relied on various case laws to support their contention. They emphasized the decision of the Tribunal in a similar case where interest was granted from the date of deposit till realization. The appellant also argued that the adjudicating authority was obligated to follow the Tribunal's decision within six months as per CBEC Circular No.4/2007-Cus dated 10.01.2007. On the contrary, the Revenue's Authorized Representative referred to a decision of the Hon'ble Apex Court in a different case, stating that interest is due after three months from the date of filing the refund claim till realization. The Tribunal noted that the decision cited by the appellant was rendered before the decision of the Hon'ble Apex Court. As a result, the Tribunal decided to follow the Hon'ble Apex Court's decision, allowing interest to the appellant after three months from the date of filing the refund claim (25.10.2013) till its realization (04.11.2015). In conclusion, the appeal was disposed of with the terms mentioned above.
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