https://www.taxtmi.com/caselaws?id=75345 Under Section 27A of the Customs Act, the rate of interest on delayed refund continues to track successive Central Government notifications during the period of continuing delay. The phrase "for the time being fixed" was read as applying to each stage after the statutory refund period expires, so later notifications govern the relevant later periods rather than only the first default date. A construction fixing one uniform rate for the entire delay would make subsequent notifications redundant. The appellate authority's uniform-rate approach was therefore not sustainable. en-us Wed, 17 Jun 2009 00:00:00 +0530 Fri, 09 Apr 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75345 Under Section 27A of the Customs Act, the rate of interest on delayed refund continues to track successive Central Government notifications during the period of continuing delay. The phrase "for the time being fixed" was read as applying to each stage after the statutory refund period expires, so later notifications govern the relevant later periods rather than only the first default date. A construction fixing one uniform rate for the entire delay would make subsequent notifications redundant. The appellate authority's uniform-rate approach was therefore not sustainable. Case-Laws Customs Wed, 17 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75345