2004 (8) TMI 122 - AT - Customs

Summary

The Applicants imported a Caustic Soda Plant, filed a refund claim of Rs. 39,32,250, and received Rs. 34,83,457. A remaining amount of Rs. 4,48,793 was rejected. The Tribunal ruled that interest on the sanctioned amount is payable from 3 months after the finalization of assessment on 16-2-2001. The Applicants are entitled to interest on Rs. 34,83,457 from 17-5-2001 till the payment date at the prevailing rate.