2011 (8) TMI 796

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....d Dhruv Agarwal, Counsels, for the Petitioner. S/Shri S.P. Kesarwani, K.C. Sinha and A.K. Nigam, for the Respondent. [Order]. -  We have heard Sri Bharat Ji Agrawal, Senior Advocate assisted by Sri Piyush Agrawal, learned counsel for the appellant and Sri S.P. Kesarwani appearing for the department. 2. This Central Excise Appeal under Section 35-G of the Central Excise Act, 1944 has ....

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.... of the appeal observed :- "The issue in this appeal and in several other appeals is whether the pre-deposit made as a pre-condition for the hearing of the appeal under the Central Excise Act, 1985 was, on the assessee being ultimately successful, refundable to the assessee with interest. The learned Solicitor General has taken instructions and has stated before this Court that the Central Board ....

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.... for payment of interest but reducing the rate of interest from 15% p.a. to 12% p.a. The respondent has agreed to repay the difference to the appellant within a period of three months. 5. The Tribunal has rejected the prayer for payment of interest on the encashed bank guarantee, on the ground that Section 11B would not apply. In case bank guarantee is furnished in the provisional assessment....