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The CESTAT held that for refunds filed under the Central Excise Act, 1944, interest on delayed refunds is governed by Section 11BB and would be payable from the date of deposit made by the assessee, as per the Supreme Court's decision in Ranbaxy case. The appeal filed by the assessee against the adjudicating authority's order, which had calculated interest from the deposit date, was dismissed.
The CESTAT held that for refunds filed under the Central Excise Act, 1944, interest on delayed refunds is governed by Section 11BB and would be payable from the date of deposit made by the assessee, as per the Supreme Court's decision in Ranbaxy case. The appeal filed by the assessee against the adjudicating authority's order, which had calculated interest from the deposit date, was dismissed.
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