TaxTMI 
TaxTMI 
2002 (2) TMI 682
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....regards the assessment of the goods imported by them, was rejected by the original adjudicating authority as also by the Commissioner of Customs (Appeals). Thereafter, an appeal was filed before CEGAT, New Delhi, which vide their letter No. C-136/91-B2, dated 29-5-91, allowed the appeal and set aside the orders impugned before it. Thereafter, the appellants filed a refund claim as a consequence of passing of the CEGAT's order. The said refund claim was finally sanctioned by the Assistant Commissioner, vide his Refund Order No. 10/96, dated 8-7-96. After receiving the refund amount of Rs. 10,18,289.00 (Rupees ten lakh eighteen thousand two hundred eighty-nine), the appellants preferred their claim for the interest on the refund amount. The A....
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....der this Section from the date immediately after three months from such date till the date of refund of such duty. Inasmuch as the applicants' refund claim arose as a result of order of the Tribunal passed in May, 1991, the appellants would be covered by the proviso to Section 27A which provides payment of interest in respect of the claims of refund from the date immediately after three months of the Finance Bill, 1995 receiving the assent of the President. The said Bill became an Act with effect from 26-5-96. As such, the appellants were entitled to the interest from the date immediately following three months from 26-5-95, inasmuch as their Refund Application was pending at the time when the interest provisions were introduced. 3. T....