https://www.taxtmi.com/caselaws?id=428868 The Tribunal ruled in favor of the appellant, holding that they were entitled to interest on the refunded amount of Rs.15,50,000/- at a rate of 15% per annum from the date of deposit. The Tribunal emphasized that the redemption fine was a revenue deposit, not a duty, making Section 11B inapplicable. Citing legal precedents, the Tribunal overturned the Commissioner's decision and allowed the appeal, highlighting the appellant's right to interest based on the nature of the deposit and relevant statutory provisions. en-us Tue, 27 Sep 2022 00:00:00 +0530 Thu, 13 Oct 2022 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428868 The Tribunal ruled in favor of the appellant, holding that they were entitled to interest on the refunded amount of Rs.15,50,000/- at a rate of 15% per annum from the date of deposit. The Tribunal emphasized that the redemption fine was a revenue deposit, not a duty, making Section 11B inapplicable. Citing legal precedents, the Tribunal overturned the Commissioner's decision and allowed the appeal, highlighting the appellant's right to interest based on the nature of the deposit and relevant statutory provisions. Case-Laws Central Excise Tue, 27 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428868