https://www.taxtmi.com/caselaws?id=4064 The Tribunal rejected the appeal seeking interest on delayed refund of a pre-deposit of penalty, upholding the Commissioner (Appeals)'s decision. It emphasized that interest on such refunds is not automatically payable and must be determined based on specific statutory provisions. The Tribunal highlighted that interest liability arises only if payment is delayed beyond three months, in line with legal precedents and a draft circular mentioned in a Supreme Court decision. The decision followed the precedent set by the Larger Bench in a related case, which held that no interest was payable on redemption fine and penalty under the Customs Act. en-us Fri, 23 Nov 2007 00:00:00 +0530 Mon, 19 May 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4064 The Tribunal rejected the appeal seeking interest on delayed refund of a pre-deposit of penalty, upholding the Commissioner (Appeals)'s decision. It emphasized that interest on such refunds is not automatically payable and must be determined based on specific statutory provisions. The Tribunal highlighted that interest liability arises only if payment is delayed beyond three months, in line with legal precedents and a draft circular mentioned in a Supreme Court decision. The decision followed the precedent set by the Larger Bench in a related case, which held that no interest was payable on redemption fine and penalty under the Customs Act. Case-Laws Customs Fri, 23 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4064