https://www.taxtmi.com/caselaws?id=34725 The Appellate Tribunal CESTAT, New Delhi rejected the appellant's claim for interest on delayed refund payments of unutilized Cenvat credit. The Tribunal emphasized that such credits do not accrue interest like a bank account and clarified the difference between duty payment refunds and refunds of unutilized credit. As the refunds were in the form of Cenvat credit and were paid within three months, the Tribunal found no basis for granting interest on the cash refunds. Consequently, the appeals were rejected, affirming the Commissioner (Appeals)'s decision. en-us Mon, 09 Feb 2009 00:00:00 +0530 Tue, 13 Oct 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34725 The Appellate Tribunal CESTAT, New Delhi rejected the appellant's claim for interest on delayed refund payments of unutilized Cenvat credit. The Tribunal emphasized that such credits do not accrue interest like a bank account and clarified the difference between duty payment refunds and refunds of unutilized credit. As the refunds were in the form of Cenvat credit and were paid within three months, the Tribunal found no basis for granting interest on the cash refunds. Consequently, the appeals were rejected, affirming the Commissioner (Appeals)'s decision. Case-Laws Central Excise Mon, 09 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34725