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TMI Blog2016 (2) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;ble Supreme Court in case of Sandvik Asia Ltd. vs. CIT, Pune- 2006 (196) ELT 257 (SC). He also relied on the decision of Hon'ble High Court of Gujarat in the case of Shri Jagadamba Polymers Ltd. - 2013 (289) ELT 429. Learned Counsel also relied on decisions of Tribunal in case of - (i) VBC Industries Ltd. vs. CCE 2008 (225) ELT 472 (i) Kerala Chemicals Proteins Ltd. vs. CCE 2007 (211) ELT 375 3. Learned A.R. relied on the orders. He further relied on the decision of Larger Bench in case of Sun Pharmaceuticals Industries 2005 (185) ELT 253 (LB) where it has been held that interest on interest can not be sanctioned. He also relied on following discussions for this purpose. (i) CCE, Surat vs. Mahavir Crimpers 2013 (2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... present case, the Department cannot avoid the liability of accounging for interest on the delayed payment of interest to the extent the same was paid late. Since such claim does not fall within the statutory provisions contained in Section 11BB of the Act, in exercise of writ jurisdiction, we would not direct payment of such interest at the statutory rate but would provide for reasonable interest looking to the present trend. Under the circumstances, the petition is allowed. The respondents shall pay simple interest at the rate of 9% per annum on the sum of ₹ 1,06,12,678/- for the period between 1-4-2003 to 23-9-2004 which shall be done within a period of eight weeks from the date of receipt of a copy of this order. The petition is d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e court was dealing with certain issues arising under the Income Tax Act. The question to be decided by us is whether this Tribunal has power to award interest on delayed payment of interest to the assessee. The Tribunal's Larger Bench has already settled this issue by holding that this Tribunal has no such power for want of specific provision in the Central Excise Act/ Rules for payment of interest on delayed payment of interest. The Larger Bench decision is equally applicable to a claim for interest on delayed payment of interest on Customs duty in the absence of specific provisions in the Customs Act and the rules made thereunder. The Larger Bench decision is binding on this Bench. 7. In view of above I have reached a conclusion ..... X X X X Extracts X X X X X X X X Extracts X X X X
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