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TMI Blog2017 (10) TMI 1203X X X X Extracts X X X X X X X X Extracts X X X X ..... stoms Act, 1962 @ 6% per annum, is hereby allowed, for the period from the date of filing of the appeal till the date of grant of refund - application disposed off. - C/MISC/70231/2017, C/70089/2015-CU[DB] - MO/70303/2017-CU[DB] - Dated:- 28-9-2017 - Mr. Anil Choudhary, Member (Judicial) And Mr. Anil G. Shakkarwar, Member (Technical) Shri Satyavir Singh, Consultant Shri Ishwar Singh, Adv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngh to comply with the directions of this Tribunal, as regards interest. Today when the matter was called, the learned A.R. for revenue have submitted a copy of reply from the said Mr. Manbir Singh, Assistant Commissioner of Customs, Noida wherein he stated that under the provisions of Section 27A of the Customs Act, 1962, interest is payable only if the refund is not granted within a period of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld be paid to the appellant with interest at such rate, not below 5% and not exceeding 36% per annum as is for the time being fixed by the Central Government, by notification in the Official Gazette, on such amount from the date of payment of the amount till, the date of refund of such amount: Provided that the amount deposited under Section 129E, prior to commencement of Finance Act, 2014 shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id that the assessee has recovered from its customers the amount subsequently deposited with the Revenue and thus enriched itself by collecting such amount from the customers. Thus, the amount has to be taken as deposit. Therefore, the revenue was required to refund the amount of deposit with interest. 2.3 The Hon ble High Court in the said order in para-21 has observed- As we have said earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X
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