https://www.taxtmi.com/caselaws?id=124088 Section 11BB interest on a refund depends on whether the amount recovered is legally characterised as duty or as penalty. Where the department realises sums by encashment of bank guarantees, the authority must first determine the true nature of the recovery before applying the interest provision. Because the appellate authority had not examined that characterisation, the existing interest order could not be sustained and the matter required fresh consideration on the revenue's objection. en-us Thu, 06 Dec 2007 00:00:00 +0530 Tue, 25 Sep 2012 13:42:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124088 Section 11BB interest on a refund depends on whether the amount recovered is legally characterised as duty or as penalty. Where the department realises sums by encashment of bank guarantees, the authority must first determine the true nature of the recovery before applying the interest provision. Because the appellate authority had not examined that characterisation, the existing interest order could not be sustained and the matter required fresh consideration on the revenue's objection. Case-Laws Customs Thu, 06 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124088