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TMI Blog2022 (6) TMI 704X X X X Extracts X X X X X X X X Extracts X X X X ..... ISSIONER OF INCOME-TAX AND OTHERS [ 2006 (1) TMI 55 - SUPREME COURT] . The Adjudicating Authority is directed to grant balance amount of interest @ 12% per annum within a period of 45 days from the date of receipt of a copy of this order - appeal allowed - decided in favor of appellant. - Excise Appeal No. 50773 of 2022-SM - FINAL ORDER NO. 51514/2022 - Dated:- 3-6-2022 - MR. ANIL CHOUDHARY, MEMBER (JUDICIAL) Sh. Naveen Mullick, Advocate for the appellant Ms. Tamanna Alam, Authorised Representative for the respondent ORDER Heard the parties. 2. The issue involved in this appeal is whether the appellant is entitled to interest on the amount collected from them during investigation, admittedly paid under protest, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 704 dt. 26.09.2008 -do- 01.10.2008 15,00,000/- 4. The appellant immediately on the very next date on 20.09.2008 informed the Assistant Commissioner of Central Excise (Anti Evasion), that these amounts had been paid by them under protest on the insistence of the inspecting officer. The appellant reiterated, as per the legal advice, there activity does not fall under the provision of Central Excise and hence no duty is chargeable. The appellant also mentioned that these cheques have been given without prejudice to the right to contest the issue on merit. This fact is also mentioned in para 25 of the show cause notice dated 01.10.2009. Further, there was proposal in the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deposit already made is sufficient for the purpose of admission of the appeal for hearing, thus, the said amount of Rs. 50 lakhs was treated as the pre-deposit on 22.11.2011. It was further observed that interest on delayed refund is payable @ 6% p.a., as notified. The appellant-assessee has been paid interest @ 6% p.a., in terms of the judicial pronouncement by the Tribunal and higher Courts, and as also referred to in the Circular No. 984/8/2014-CX dated 16.09.2014. Accordingly, the learned Commissioner (Appeals) observed that the matter needs to be remanded for recalculation of interest in terms of his observation. 7. Being aggrieved, the appellant assessee is before this Tribunal urging that as per Section 35FF, interest is payable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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