https://www.taxtmi.com/caselaws?id=45439 The court allowed the petition for interest on delayed refund of excise duty, directing the respondent to pay interest at 12% p.a. from the date of rejection of the refund claim until actual payment. The court emphasized the principle of equity and cited precedents supporting compensation for losses due to wrongful withholding. Despite the respondent's reliance on a contrary judgment, the court distinguished the case based on wrongful levy and refund delay, justifying the interest award. Additionally, costs were awarded to the petitioners, and any security amount paid was to be refunded. en-us Wed, 16 Feb 2000 00:00:00 +0530 Sat, 10 Jul 2010 14:28:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45439 The court allowed the petition for interest on delayed refund of excise duty, directing the respondent to pay interest at 12% p.a. from the date of rejection of the refund claim until actual payment. The court emphasized the principle of equity and cited precedents supporting compensation for losses due to wrongful withholding. Despite the respondent's reliance on a contrary judgment, the court distinguished the case based on wrongful levy and refund delay, justifying the interest award. Additionally, costs were awarded to the petitioners, and any security amount paid was to be refunded. Case-Laws Central Excise Wed, 16 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45439