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Issues: Implementation of Tribunal's order, Grant of interest on delayed refund
Implementation of Tribunal's Order: The application sought implementation of the Tribunal's order passed on 14-3-2001, which allowed the assessee's appeal with consequential relief. Despite numerous reminders, the refund of Rs. 15 lakhs deposited by the applicant in pursuance of the Tribunal's stay order had not been made. The applicant requested interest from the date of the final order of the Tribunal till the date of the refund order, citing relevant precedents. Grant of Interest on Delayed Refund: The departmental representative referred to a Larger Bench order stating that the Tribunal has no inherent power to grant interest. The Larger Bench returned an unanswered reference on whether the Tribunal has inherent jurisdiction to award interest. However, previous cases showed that the Tribunal had awarded interest by exercising inherent powers. In a similar case, the Tribunal directed the payment of interest for delays in refunding amounts deposited pursuant to a stay order. The current case was deemed fit for exercising inherent powers, and interest was granted from the date of the Tribunal's order till the date of the refund order, based on the criteria followed in previous judgments. By analyzing the issues involved, the Tribunal found that the delay in refunding the deposit was unjustified, leading to the decision to grant interest to the applicant. The Tribunal considered the precedents and criteria followed in similar cases to justify the grant of interest from the date of the Tribunal's order. This judgment highlights the importance of timely implementation of Tribunal orders and the exercise of inherent powers in cases of delayed refunds to ensure justice for the parties involved.
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