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TMI Blog2023 (3) TMI 170X X X X Extracts X X X X X X X X Extracts X X X X ..... und of amount deposited during investigation or deposited during pendency of appeal is allowable under Section 35EE of the Act and has to be paid from the date of deposit till the date of refund. The appellant is entitled to interest on the refundable amount of Rs. 22,84,270/- from the date of deposit (27.10.2010) till the date of refund being 05.02.2021, @ 12% per annum - Appeal allowed. - Excise Appeal No. 51277 of 2022 (SM) - FINAL ORDER NO. 50255/2023 - Dated:- 1-3-2023 - MR. ANIL CHOUDHARY, MEMBER (JUDICIAL) Ms. Priyanka Goel, Advocate for the Appellant Shri Gopi Raman, Authorised Representative for the Respondent ORDER The issue in this appeal is regarding grant of proper interest on the amount refunded, whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd was sanctioned but no interest was given on the sanctioned amount. 14.03.2017 Hon ble Tribunal vide their Final Order No. 5253452538/2017 set aside the order appealed against and remanded all the appeals i.e both appellant and department appeal to the original authority for denovo adjudication. 12.05.2020 ld. Commissioner has dropped the whole duty demand of Rs.63,66,128/- but imposed the redemption fine of Rs. 3000000/- u/r 25 of the Central Excise Rules, 2002. Further he also imposed penalty amounting to Rs. 6,50,000/- under rule 25 and Penalty of Rs.6,50,000/- on Sh. Sanjeev Bhardwaj, Director of the Company. He directed to appropriate the amounts from t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appellant states that the issue is no longer res integra and it have been held by Division Bench of this Tribunal in Parle Agro Pvt Ltd vs. Commissioner, CGST, Noida 2022 (380) ELT 219 (Tri.-All), wherein this Tribunal have held that interest on refund of amount deposited during investigation or deposited during pendency of appeal is allowable under Section 35EE of the Act and has to be paid from the date of deposit till the date of refund. The Division Bench have followed the ruling of Hon ble Supreme Court in Sandvik Asia Ltd. Vs. Commissioner of Income Tax-I, Pune 2006 196 ELT 257 (SC). Learned Counsel further urges that the ruling of Division Bench of the Tribunal in Parle Agro have been confirmed by Hon ble Punjab Haryana High C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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