https://www.taxtmi.com/caselaws?id=751200 CESTAT Hyderabad held that amounts deposited during investigation, subsequently found refundable, constitute revenue deposits entitled to interest. Following SC precedent in Sandvik Asia Ltd, which recognized compensatory nature of interest on delayed refunds, and tribunal decisions in Parle Agro Ltd and Riba Textiles Ltd, the court granted 6% interest per annum from deposit date until refund. The court rejected unjust enrichment principles, noting deposits were made under protest during investigation without legal sanction. The appellant-exporter successfully discharged burden under Section 28D, with deposits made in December 2009 after export invoice dated August 2008 and remittance received before March 2009. Appeal allowed in part. en-us Mon, 08 Apr 2024 00:00:00 +0530 Wed, 10 Apr 2024 08:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751200 CESTAT Hyderabad held that amounts deposited during investigation, subsequently found refundable, constitute revenue deposits entitled to interest. Following SC precedent in Sandvik Asia Ltd, which recognized compensatory nature of interest on delayed refunds, and tribunal decisions in Parle Agro Ltd and Riba Textiles Ltd, the court granted 6% interest per annum from deposit date until refund. The court rejected unjust enrichment principles, noting deposits were made under protest during investigation without legal sanction. The appellant-exporter successfully discharged burden under Section 28D, with deposits made in December 2009 after export invoice dated August 2008 and remittance received before March 2009. Appeal allowed in part. Case-Laws Customs Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751200