https://www.taxtmi.com/caselaws?id=120665 The Tribunal allowed the appeal, directing the lower authority to grant interest to the appellant on the refunded amount following the Bank Guarantee encashment, treating it as a pre-deposit under relevant sections of the Customs Act. The decision was based on the appellant's argument supported by a CBEC Circular, emphasizing the obligation of the department to pay interest due to the illegal assessment order and the Bank Guarantee invocation. This ruling clarifies the entitlement to interest on refunded amounts in similar cases, ensuring compliance with legal provisions and precedents. en-us Tue, 31 Oct 2006 00:00:00 +0530 Mon, 23 Jul 2012 14:04:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120665 The Tribunal allowed the appeal, directing the lower authority to grant interest to the appellant on the refunded amount following the Bank Guarantee encashment, treating it as a pre-deposit under relevant sections of the Customs Act. The decision was based on the appellant's argument supported by a CBEC Circular, emphasizing the obligation of the department to pay interest due to the illegal assessment order and the Bank Guarantee invocation. This ruling clarifies the entitlement to interest on refunded amounts in similar cases, ensuring compliance with legal provisions and precedents. Case-Laws Customs Tue, 31 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120665