Condonation of Delay denied: communication lapses and corporate restructuring found insufficient; prolonged inaction and lack of bona fides led to ref...
Export Support intervention INSIGHT launched to provide non financial capacity building, trade intelligence and pilot support with defined funding and...
Entitlement to compensatory interest on delayed customs refunds arises under Section 27A and the statute mandates interest from the day after three months from receipt of the refund application; a deeming fiction in law does not postpone that commencement. The Department's wrongful rejection and protracted adjudication cannot defeat this statutory right, and denial of interest on the ground that refund was sanctioned only after appellate orders is unsustainable. Consequently the appellant is entitled to interest from the expiry of three months from each original refund application date in 2003 until actual payment, and the adjudicating authority was directed to compute and pay it promptly.
Entitlement to compensatory interest on delayed customs refunds arises under Section 27A and the statute mandates interest from the day after three months from receipt of the refund application; a deeming fiction in law does not postpone that commencement. The Department's wrongful rejection and protracted adjudication cannot defeat this statutory right, and denial of interest on the ground that refund was sanctioned only after appellate orders is unsustainable. Consequently the appellant is entitled to interest from the expiry of three months from each original refund application date in 2003 until actual payment, and the adjudicating authority was directed to compute and pay it promptly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
