CESTAT orders 12% interest for delayed refund, officers not liable for interest

The Appellate Tribunal CESTAT, New Delhi held that interest at 12% per annum should be paid for the delay in returning the deposited amount as per the interim order. Authorities were directed to pay the interest within 2 weeks. The application to review the order on recovering interest from officers was dismissed.

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The Appellate Tribunal CESTAT, New Delhi ruled that interest at 12% per annum must be paid for delay in returning the deposited amount as per the interim order. The tribunal directed authorities to pay the interest within 2 weeks. An application to review the order regarding recovery of interest from officers was dismissed. (2005 (3) TMI 264 - CESTAT, New Delhi)

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