https://www.taxtmi.com/caselaws?id=350669 Interest on delayed refund of accumulated CENVAT credit becomes payable under Section 11BB of the Central Excise Act, 1944 after three months from receipt of the refund application, not from the later date of sanction. The statutory interest compensates the assessee for delay beyond the prescribed period, so subsequent appellate sanction of refund does not defer the interest start date. On this interpretation, denial of interest on the delayed refund was unsustainable and the assessee was entitled to consequential relief. en-us Mon, 06 Nov 2017 00:00:00 +0530 Fri, 15 Dec 2017 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350669 Interest on delayed refund of accumulated CENVAT credit becomes payable under Section 11BB of the Central Excise Act, 1944 after three months from receipt of the refund application, not from the later date of sanction. The statutory interest compensates the assessee for delay beyond the prescribed period, so subsequent appellate sanction of refund does not defer the interest start date. On this interpretation, denial of interest on the delayed refund was unsustainable and the assessee was entitled to consequential relief. Case-Laws Service Tax Mon, 06 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350669