Grant of interest on the amount of bank guarantee, which was ...

Appellant Wins Interest on Wrongly Encashed Bank Guarantee u/s 129 EE; 6% Interest from Deposit to Refund.

April 28, 2023

Case Laws     Customs     AT

Grant of interest on the amount of bank guarantee, which was wrongly encashed by the Customs Department - the amount encashed by way of bank guarantee remained with the Revenue as deposit and accordingly with the meaning of Section 129 EE, the appellant is entitled to interest on refund from the date of deposit till the date of refund @6% p.a. - AT

View Source