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The case involves interest on a refund claim u/s 11BB of the Central Excise Act, 1944. The issue was whether interest should be calculated from three months after the Tribunal's final order or from the date of the order. The appellant was found entitled to interest u/s 11BB. The Supreme Court clarified that certain refunds are not covered by Section 11B or 35FF, so the denial of interest was unjustified. The appellant was entitled to interest from the date of deposit till refund at a rate of 12% per annum due to the denial of a benefit. The appeal was allowed, setting aside the previous findings.
The case involves interest on a refund claim u/s 11BB of the Central Excise Act, 1944. The issue was whether interest should be calculated from three months after the Tribunal's final order or from the date of the order. The appellant was found entitled to interest u/s 11BB. The Supreme Court clarified that certain refunds are not covered by Section 11B or 35FF, so the denial of interest was unjustified. The appellant was entitled to interest from the date of deposit till refund at a rate of 12% per annum due to the denial of a benefit. The appeal was allowed, setting aside the previous findings.
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