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TMI Blog2022 (8) TMI 985X X X X Extracts X X X X X X X X Extracts X X X X ..... - notification dated 12.09.2003 issued by the Government of India through the Ministry of Finance (Department of Revenue) - threshold limit of amount which was deposited in the course of investigation - HELD THAT:- The principal amount, therefore, which is involved in the present proceedings is Rs 25,00,000/-. Issue notice - List the matter on 11.11.2022. - CEAC 3/2022 & CM APPL. 31382/202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yable at the rate of 6%. 2.1 In this behalf, Mr Ramachandran has relied upon the provisions of section 11BB of the Central Excise Act, 1944 [in short, the Act ], and the notification dated 12.09.2003 issued by the Government of India through the Ministry of Finance (Department of Revenue.) 2.2. It is Mr Ramachandran s contention that the interest under Section 11BB of the Act on refund shou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preme Court rendered in Sandvik Asia Ltd. v. Commissioner of Income Tax I, Pune Ors. (2006) 2 SCC 508 has been explained in the judgment dated 19.04.2022 rendered by the Supreme Court in Civil Appeal nos. 2995-2996/2022 titled Union of India Ors. v. M/s Willowood Chemicals Pvt. Ltd. Anr. 5. We may also note that the amount on which refund is sought, according to Ms Preeti Goel, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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