https://www.taxtmi.com/caselaws?id=33463 The Tribunal overturned the Commissioner (Appeals)'s decision and upheld the Revenue's appeal regarding interest on the delay in refund of an amount collected as interest on duty under Section 47(2) of the Customs Act, 1962. The Tribunal ruled that there is no provision in the Customs Act for payment of interest on interest, especially from the date of payment, and that refund was sanctioned within three months of the claim filing, eliminating the need for additional interest payment. The decision emphasized that Customs authorities must adhere to the statutory framework and cannot grant interest on delayed payment of interest without specific legal provisions. en-us Mon, 21 Jul 2008 00:00:00 +0530 Sat, 16 May 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33463 The Tribunal overturned the Commissioner (Appeals)'s decision and upheld the Revenue's appeal regarding interest on the delay in refund of an amount collected as interest on duty under Section 47(2) of the Customs Act, 1962. The Tribunal ruled that there is no provision in the Customs Act for payment of interest on interest, especially from the date of payment, and that refund was sanctioned within three months of the claim filing, eliminating the need for additional interest payment. The decision emphasized that Customs authorities must adhere to the statutory framework and cannot grant interest on delayed payment of interest without specific legal provisions. Case-Laws Customs Mon, 21 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33463