2011 (2) TMI 1054

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....se, the appellant has applied to the department seeking  refund of interest on the refund amount at the rate prevailing during the period in question. From the Order-in-Original, it is found that refund of Rs. 2,64,649 was sanctioned by the department. Thereafter, the interest on the said amount was also paid with effect from 1.5.2001 to 26.7.2006  amounting to Rs. 98712/-. When the appe....

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....uested for deciding the case on the basis of case records. The ld.JDR reiterates the findings of the lower authorities. 3. I have seen the case records. I find that the interest claimed on the refund amount which pertains to the period from 1.5.01 to 26.7.06. The rate of interest fixed vide Notification No. 75/03 cannot be applied retrospectively. The appellant is entitled to interest  fr....