https://www.taxtmi.com/caselaws?id=48293 The Court ruled in favor of the petitioner, determining that they are entitled to 12% interest on the principal pre-deposit amount and the amount deposited in court. The respondents' argument for 8% interest based on the Customs Act was rejected, and the Court upheld the petitioner's claim for interest as per the Board's circular. The petitioner's Appeal to the Supreme Court was allowed, indicating a different outcome than initially argued. The Court emphasized the distinction between pre-deposit and duty, affirming the entitlement to 12% interest on pre-deposit amounts in cases of refund delays. en-us Thu, 29 Nov 2007 00:00:00 +0530 Tue, 19 Sep 2017 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48293 The Court ruled in favor of the petitioner, determining that they are entitled to 12% interest on the principal pre-deposit amount and the amount deposited in court. The respondents' argument for 8% interest based on the Customs Act was rejected, and the Court upheld the petitioner's claim for interest as per the Board's circular. The petitioner's Appeal to the Supreme Court was allowed, indicating a different outcome than initially argued. The Court emphasized the distinction between pre-deposit and duty, affirming the entitlement to 12% interest on pre-deposit amounts in cases of refund delays. Case-Laws Customs Thu, 29 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48293