https://www.taxtmi.com/caselaws?id=765197 CESTAT Chandigarh allowed the appeal, holding that the appellant was entitled to interest at 12% per annum on the refund amount of Rs.12,00,00,000 from the date of deposit until refund date. The Tribunal relied on SC precedent in Sandvik Asia Limited and Punjab & Haryana HC decision in Riba Textiles Ltd. The adjustment of Rs.64,73,631 from the total refund was deemed erroneous as the underlying demand was set aside by the Appellate Authority and had not attained finality. The Tribunal ruled that adjustment against unconfirmed demand during appeal pendency constitutes coercive recovery and is impermissible. The appellant was granted full refund with interest at 12% per annum. en-us Fri, 24 Jan 2025 00:00:00 +0530 Tue, 28 Jan 2025 08:24:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765197 CESTAT Chandigarh allowed the appeal, holding that the appellant was entitled to interest at 12% per annum on the refund amount of Rs.12,00,00,000 from the date of deposit until refund date. The Tribunal relied on SC precedent in Sandvik Asia Limited and Punjab & Haryana HC decision in Riba Textiles Ltd. The adjustment of Rs.64,73,631 from the total refund was deemed erroneous as the underlying demand was set aside by the Appellate Authority and had not attained finality. The Tribunal ruled that adjustment against unconfirmed demand during appeal pendency constitutes coercive recovery and is impermissible. The appellant was granted full refund with interest at 12% per annum. Case-Laws Service Tax Fri, 24 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765197