9911796707
TMI Blog2018 (1) TMI 303X X X X Extracts X X X X X X X X Extracts X X X X ..... on the entire value of ₹ 2 crores - appeal allowed. - E/87772/16 - A/90934/2017 - Dated:- 29-11-2017 - Shri Raju, Member (Technical) Shri Prakash Shah, Advocate for the appellant Shri D.S. Chauhan, Supdt. (AR) for the respondent ORDER Per: Raju This appeal has been filed by Tien Yuan India P. Ltd. against denial of interest on refund sanctioned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he confiscation of goods, imposition of redemption fine against the appellants. The appellants filed refund of ₹ 2 crore along with interest after adjusting the amount due to revenue. Revenue however, ordered refund of net amount being adjusting the demand confirmation and redemption fine imposed on the appellants. The interest was paid on the net amount sanctioned and not on the full ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the expiry of the period of three months from the date of the application, meaning thereby the amount shall carry interest at the rate of 6% per annum from 4 th January, 2007 to 27 th April, 2015. This figure shall be calculated and the amount be paid within a period of two weeks from the date of receipt of a copy of this order. Ld. Counsel argued that in terms of Hon'ble High Court or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellants with effect from 04.01.2007 onwards till 27.04.2015. The appellants would be rightly entitled to the interest on the entire amount of ₹ 2 crore in terms of order of Hon'ble High Court. The adjustment if any of redemption fine and confirmation demand can be done only after calculating and granting interest on the entire value of ₹ 2 crores. 5. The appeal is consequentl ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
