Refund claim of market value of gold - Here is the case where ...

Petitioner entitled to refund of gold's value at seizure with 7.5% interest; market value claim denied.

February 6, 2021

Case Laws Customs HC

Refund claim of market value of gold - Here is the case where the departmental action of confiscation of seized goods came to be set aside by the CESTAT but by the time the Tribunal passed such an order the goods were already disposed of. The petitioner therefore can claim reasonable interest on such principal sum which must be refunded to him. - While not accepting the claim of the petitioner for granting him the market value of the gold on the date of application made by him to the department, it is provided that the value of the gold as estimated at the time of seizure will be paid to the petitioner along with simple interest @ 7.5% per annum - HC

View Source

← Previous Next →

Refund claim of market value of gold - Here is the case where ...

Petitioner entitled to refund of gold's value at seizure with 7.5% interest; market value claim denied.

February 6, 2021

Case Laws Customs HC

You may also like:

Refund of unutilized CENVAT Credit - surrender of registration - the appellant is entitled for refund claim of unutilized cenvat credit lying in their cenvat credit...

Claim of interest on refund as Rule 5 of CCR, 2002 - AT

The petitioner's denial of refund of input tax credit debited as a pre-deposit was challenged. The court held that the non-inclusion of freight and pumping charges...

Claim of Interest on Refund u/s 7 of the DTVSV Act, 2020 - The High court determined that the petitioner was entitled to refunds as quantified in the Rectification Order...

Refund of Cenvat credit - Rule 5 – Power of Additional Commissioner to adjudicate refund claim - AT

Interest on delayed refund - seizure of cash / currency during search - The Commissioner (Appeals) has committed an error while holding that since there is no provision...

The appellants challenged the order of the Commissioner (Appeals) denying eligible interest on the refunded amount. The court held that interest accrued on the deposited...

Conviction u/ss 420, 467, 468, 120B of the IPC and Section 5(2) and 5(1)(d) of the Prevention of Corruption Act, 1988. Petitioner worked as Appraiser in Customs office....

Interest on delayed refund of IGST paid on export of the goods along with duty drawback - The refund of the petitioner was withheld for almost six months and after six...

Claim of interest on refund of "penalty amount and interest paid thereon" - Petitioner had paid interest on outstanding amount of penalty. On deletion of penalty,...

Reversal of Cenvat Credit - Whether the appellant is liable to pay 5% / 6% / 7% of the value of exempted services (trading) as they failed to maintain separate accounts...

Claim of interest on refund of amount deposited during the pendency of its appeal - The petitioner is not entitled to interest at 12% as was prayed by the petitioner....

Amendment of section 244A. - additional interest on refund - where a refund arising out of appeal effect is delayed beyond the time prescribed under subsection (5) of...

The Corporate Debtor denied the existence of a loan agreement with 12% interest, as claimed by the Financial Creditor in the Section 7 application. To qualify as a...

Delay in issuing Refund under Direct Tax Vivad Se Vishwas Scheme 2020 - interest on delayed refund - Despite the issuance of Form No. 5, the refunds for the Assessment...

Quick Updates: