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TMI Blog2020 (3) TMI 653X X X X Extracts X X X X X X X X Extracts X X X X ..... application for refund under Section 11B(1) of the Act and not on the expiry of the said period from the date on which order of refund is made. In the present case, the refund claims were filed during the period 7-3-1993 to 28-4-1994. Section 11BB was introduced with effect from 26-8-1995. It is apparent that 3 months have passed from the date of filing refund claim and introduction of Section 11BB - there is a merit in the claim of the appellant that they are entitled for interest with effect from 26-8-1995 onwards till sanction of refund - appeal allowed. - E/11905-11908/2018-SM - Final Order Nos. A/11641-11644/2019-WZB/AHD - Dated:- 4-9-2019 - Shri Raju, Member (T) Shri V.S. Sejpal, Advocate, for the Appellant. Shri T.K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Board s Circular No. 670/61/2002-CX, dated 1-10-2002. 3. Ld. AR relies on the impugned order. 4. I have considered rival submissions. I find that the issue has been clarified by Hon ble Apex Court in the case of Ranbaxy Laboratories Ltd. (supra). In the said case, Hon ble Apex Court has examined the issue in detail and also examined the aforesaid C.B.E. C. Circular dated 1-10-2002. In paras 13, 14 and 15 following has been observed : 13. We, thus find substance in the contention of Learned Counsel for the assessee that in fact the issue stands concluded by the decision of this Court in U.P. Twiga Fiber Glass Ltd. (supra). In the said case, while dismissing the special leave petition filed by the revenue and putting its seal o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d upon by the Delhi High Court. It is evident from a bare reading of the decision that insofar as the reckoning of the period for the purpose of payment of interest under Section 11BB of the Act is concerned, emphasis has been laid on the date of receipt of application for refund. In that case, having noted that application by the assessee requesting for refund, was filed before the Assistant Commissioner on 12th January 2004, the Court directed payment of Statutory interest under the said Section from 12th April 2004 i.e. after the expiry of a period of three months from the date of receipt of the application. Thus, the said decision is of no avail to the revenue. 15. In view of the above analysis, our answer to the question formulated ..... X X X X Extracts X X X X X X X X Extracts X X X X
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