https://www.taxtmi.com/caselaws?id=428333 Interest on an amount deposited during investigation and later refunded was determined with reference to the applicable statutory interest provisions under the Central Excise Act, 1944. The Tribunal followed earlier decisions holding that 12% per annum was payable on refunds of investigation deposits, and declined to apply the 6% rate under the notification issued under section 35FF. The refund therefore carried interest at 12% per annum from the date of deposit until the date of payment. en-us Wed, 21 Sep 2022 00:00:00 +0530 Wed, 28 Sep 2022 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428333 Interest on an amount deposited during investigation and later refunded was determined with reference to the applicable statutory interest provisions under the Central Excise Act, 1944. The Tribunal followed earlier decisions holding that 12% per annum was payable on refunds of investigation deposits, and declined to apply the 6% rate under the notification issued under section 35FF. The refund therefore carried interest at 12% per annum from the date of deposit until the date of payment. Case-Laws Central Excise Wed, 21 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428333