https://www.taxtmi.com/caselaws?id=766632 CESTAT Allahabad held that appellant was entitled to statutory interest under Section 27A of Customs Act, 1962 for delayed refund of SAD, following SC precedent in Ranbaxy Laboratories case establishing interest becomes payable after three months from application receipt. However, compensation for delay caused by dispute between Resolution Professional and Official Liquidator was denied as Customs Act does not provide for such compensation. CESTAT ruled that neither Commissioner (Appeals) nor Tribunal can grant compensation beyond statutory provisions. Appeal was allowed partially, directing payment of interest as per Notification No. 25/2003-Cus(N.T.) for the delay period. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sat, 01 Mar 2025 08:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766632 CESTAT Allahabad held that appellant was entitled to statutory interest under Section 27A of Customs Act, 1962 for delayed refund of SAD, following SC precedent in Ranbaxy Laboratories case establishing interest becomes payable after three months from application receipt. However, compensation for delay caused by dispute between Resolution Professional and Official Liquidator was denied as Customs Act does not provide for such compensation. CESTAT ruled that neither Commissioner (Appeals) nor Tribunal can grant compensation beyond statutory provisions. Appeal was allowed partially, directing payment of interest as per Notification No. 25/2003-Cus(N.T.) for the delay period. Case-Laws Customs Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766632