https://www.taxtmi.com/caselaws?id=268350 Statutory interest was payable on delayed refund of MODVAT credit under section 11BB of the Central Excise Act, read with section 11B, where the refund was not granted within three months of the refund application. For refund claims already pending when section 11BB came into force, the interest period did not run from the original application date or the appellate order, but from the expiry of three months after 26.05.1995, namely 26.08.1995. The refund had already been sanctioned, so the remaining issue was only verification and computation of interest on that basis. en-us Fri, 20 Nov 2015 00:00:00 +0530 Wed, 25 Nov 2015 08:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268350 Statutory interest was payable on delayed refund of MODVAT credit under section 11BB of the Central Excise Act, read with section 11B, where the refund was not granted within three months of the refund application. For refund claims already pending when section 11BB came into force, the interest period did not run from the original application date or the appellate order, but from the expiry of three months after 26.05.1995, namely 26.08.1995. The refund had already been sanctioned, so the remaining issue was only verification and computation of interest on that basis. Case-Laws Central Excise Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268350