9911796707
TMI Blog2015 (2) TMI 693X X X X Extracts X X X X X X X X Extracts X X X X ..... is observed that out of total amount of refund of ₹ 1,16,16,072/- the appellant has been reducing the depreciation. It is obvious that the depreciated amount is booked as expenditure in the profit and loss account and the same is deemed to be passed on to any other person, therefore the undepreciated amount of duty and interest lying in the books of account is admissible for refund to the appellant as incidence of which has not been passed on to any other person. Appellant is entitled for refund of undepreciated amount of duty and interest. However, the appellant is directed to produce the documentary evidence with regard to the depreciated amount of duty and interest, as at the time of release of the refund the amount. Needless to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e adjudicating authority. Aggrieved with the said order, the appellant is before us. 2. Shri Prashant Patankar, the ld. Counsel for the appellant submits that the amount of duty and interest thereon, for which the refund was sought for, was paid under protest during the investigation of the case, therefore provision of unjust enrichment as provided under Section 27 of the Custom Act, 1962 is not applicable in the present case. He alternately submits that the amount of refund was accounted for under head of fixed assets in the appellant's books of account on which depreciation has been claimed. It is his submission, at the most the amount which was claimed as depreciation out of the total amount of refund can only be reduced and remai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid in pursuance to the Less Charge Demand Notice' and appellant has succeeded in the adjudication and as consequential relief they became entitled for the refund. On this fact, we agree with the Revenue that the amount so deposited is not a deposit but custom duty and interest thereon. The refund of said duty is governed by Section 27 of the customs Act, 1962. As per proviso to Sub Section 2 of Section 27, it is provided as under: [2] If, on receipt of any such application, the A ssistant Commissioner of Customs or Deputy Commissioner of Customs is satisfied that the whole or any part of the duty and interest, if any, paid on such duty paid by the applicant is refundable, he may make an order accordingly and the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d on otherwise to any other person. On plain reading of the above mentioned proviso to Sub Section (2) of Section 27 of the Customs Act, 1962 only such amount can be refunded, incidence of which had not been passed on to any other person. In the present case it is observed that out of total amount of refund of ₹ 1,16,16,072/- the appellant has been reducing the depreciation. It is obvious that the depreciated amount is booked as expenditure in the profit and loss account and the same is deemed to be passed on to any other person, therefore the undepreciated amount of duty and interest lying in the books of account is admissible for refund to the appellant as incidence of which has not been passed on to any other person. 6. We there ..... X X X X Extracts X X X X X X X X Extracts X X X X
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