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Issues: Whether interest on refund is payable from the expiry of three months from the date of receipt of the refund application under Section 11BB of the Central Excise Act, 1944.
Analysis: The Tribunal had granted interest on the refunded duty from the date immediately following the expiry of three months from the date of the refund application. The High Court noted that the issue stood covered by the Supreme Court decision in Ranbaxy Pharmaceuticals Limited v. Union of India, which held that liability to pay interest under Section 11BB commences on the expiry of three months from the date of receipt of the refund application and not from the date of the decision on the refund claim.
Conclusion: Interest on delayed refund is payable from the expiry of three months from the date of receipt of the refund application. The Tribunal's view was and the challenge by the Revenue failed.
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