https://www.taxtmi.com/caselaws?id=250754 The Tribunal ruled in favor of the respondent, emphasizing the Department's wrongful appropriation of a refundable pre-deposit against alleged demands. It highlighted the entitlement to interest at a rate of 12% per annum for delays in refunding pre-deposits, based on legal precedents including the ITC Ltd. judgment. The Tribunal found the Assistant Commissioner's decision to order interest at 6% per annum erroneous and allowed the appeal against it. Ultimately, the Tribunal dismissed the Revenue's appeal, underscoring the importance of adhering to established legal principles and precedents in determining interest rates for refund delays. en-us Thu, 07 Aug 2014 00:00:00 +0530 Fri, 16 Jan 2015 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250754 The Tribunal ruled in favor of the respondent, emphasizing the Department's wrongful appropriation of a refundable pre-deposit against alleged demands. It highlighted the entitlement to interest at a rate of 12% per annum for delays in refunding pre-deposits, based on legal precedents including the ITC Ltd. judgment. The Tribunal found the Assistant Commissioner's decision to order interest at 6% per annum erroneous and allowed the appeal against it. Ultimately, the Tribunal dismissed the Revenue's appeal, underscoring the importance of adhering to established legal principles and precedents in determining interest rates for refund delays. Case-Laws Central Excise Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250754