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TMI Blog2016 (10) TMI 273X X X X Extracts X X X X X X X X Extracts X X X X ..... ssing of the order, the assessee is entitled to interest. No formal application is required to be filed. A simple letter is sufficient for the same. The application in the present case was filed by the appellant on 22.5.2008. There is error in the date noticed in the order passed by the authority for filing the application as 21.10.2008. Hon'ble Supreme Court in the case of Commissioner of Central Excise, Hyderabad v. I.T.C. Ltd.[2004 (12) TMI 90 - SUPREME COURT OF INDIA] allowed the refund along with interest @ 12% per annum. Therefore, the appellant herein is entitled to payment of interest @ 12% per annum for the period after three months till the refund was granted after passing of the order by the Tribunal on 2.5.2008. - Appeal dispos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the stay order, the Tribunal vide order dated 20.7.2006 dismissed the appeal of the appellant. Thereafter, the appellant disposed of its factory and deposited the entire amount of duty, interest and penalty amounting to ₹ 1,92,95,372/-. On deposit thereof, the appeal of the appellant was restored by the Tribunal and heard on merits. Vide order dated 2.5.2008, the appeal preferred by the appellant was allowed by the Tribunal. The demand was set aside and the matter was remitted back to be disposed of in terms of the directions issued. As the order was set aside, the appellant became entitled to refund of the amount deposited by it. A request to that effect was made by the appellant vide letter dated 22.5.2008, however, the same was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal, which was dismissed vide order dated 14.1.2015 declining the relief of interest. 3. Learned counsel for the appellant submitted that the issue regarding entitlement of interest on the amount of pre-deposit made by the assessee after decision of the case came up for consideration before Hon'ble the Supreme Court in Commissioner of Central Excise, Hyderabad v. I.T.C. Ltd., 2005 (179) ELT 15 (SC). The appeals were disposed of by Hon'ble the Supreme Court taking into consideration a circular issued by the Government of India, Ministry of Finance No. 275/37/2K-CX.8A dated 2.1.2002. However, in one of the cases before Hon'ble the Supreme Court, the rate of interest was reduced from 15% to 12% per annum. The circular of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted that as is evident from the order passed by the Tribunal, the application for refund was filed on 21.10.2008 and partially the amount was refunded within three months thereof, as for part of the amount there was dispute. When the same was settled, the amount was immediately refunded, hence, the appellant is not entitled to any interest. He further submitted that even if interest for any part of the period is to be paid, the same should not be at a rate more than 6% per annum. 5. Heard learned counsel for the parties and perused the paper book. 6. The undisputed facts on record are that demand of duty of ₹ 99.22 lacs was raised against the appellant vide Order-in-Original dated 11.11.2005. In addition, penalty of ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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