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2020 (6) TMI 223 - AT - Central ExciseInterest on refund claim - rejection of interest on the ground that the amount of refund has already been granted within three months from the date of filing on 18.01.2018 - HELD THAT - As facts of the case are not in dispute that the appellant initially filed refund claim on 05.10.2010. Although, the said amount has been adjusted against demand in separate proceedings against the appellant and the appellant have succeeded in those proceedings also, therefore, relying on the decision of Hon ble Supreme Court in RANBAXY LABORATORIES LTD. VERSUS UNION OF INDIA AND ORS. 2011 (10) TMI 16 - SUPREME COURT , it is held that the appellant is entitled to claim interest after three months from 05.10.2010 till realisation of the said amount. Further, the appellant is entitled to claim interest on deposit of ₹ 3,50,00,000/- after three months from the order date d 14.11.2017 of this Tribunal when the appellant is succeeded in appeal till its realisation. Appeal allowed - decided in favor of appellant.
Issues:
Claim of interest on refund amount rejected by authorities below. Analysis: The appellant filed an appeal against the rejection of the claim of interest on the refund amount by the authorities. The facts of the case reveal that a demand of &8377; 2,34,16,108/- was confirmed against the appellant in 2004, which was later set aside by the Tribunal in 2009. Subsequently, another demand of &8377; 14,55,88,277/- was confirmed against the appellant, which was also set aside by the Tribunal in 2017. The appellant filed refund claims in compliance with the Tribunal's orders. However, the refund amount was adjusted against the demand in other proceedings. The appellant filed a claim for interest on the refund amount, which was rejected. The Tribunal, after hearing both parties, held that the appellant is entitled to claim interest on the refund amount from three months after the initial filing date till realization. Additionally, the appellant is entitled to claim interest on the deposit made after succeeding in the appeal till realization. Citing the decision of the Hon'ble Supreme Court in Ranbaxy Laboratories Ltd. vs. Union of India, the Tribunal allowed the appeal and granted consequential benefits to the appellant in accordance with the law. This judgment clarifies the entitlement of the appellant to claim interest on the refund amount and the deposit made after succeeding in the appeal. The Tribunal relied on legal precedent to support its decision, emphasizing the appellant's right to interest as per the timeline specified. The decision ensures that the appellant receives the appropriate interest on the refunded amount and the deposit made during the legal proceedings. The Tribunal's ruling aligns with the principles of justice and fairness, providing the appellant with the due benefits following the resolution of the legal disputes.
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