TaxTMI 
TaxTMI 
2015 (12) TMI 1654
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....he case are that in the Union Budget-2004, Notification No. 30/2004 dated 09.07.2004 was issued by the Central Government, granting full exemption to textile goods, subject to condition that Cenvat credit on inputs is not availed. The assessee opted for the said exemption and decided to reverse the Cenvat credit lying as such in its factory on 08.07.2004 along with Cenvat credit availed on inputs contained in work in progress as well as finished fabrics lying in stock as on the said date. The assessee reversed an ad hoc amount of Rs. 6.76 Crores on 20.07.2004 in its PLA for the credit availed on inputs as well as on the finished products lying in the factory. However, the amount debited was found to be in excess to the tune of Rs. 55,66,808....
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.... of the documents submitted by the assessee continued till 23.06.2005 and thereafter, the adjudication order was passed on 03.01.2006. Thus, the Revenue argued that the impugned order holding the relevant date of filing the refund application as 22.11.2004 is not legally sustainable. 4. Heard both sides and examined the case records. 5. The facts are not under dispute that the assessee had paid excess duty, to which it is entitled for refund; that the detailed documents in support of claim of refund were furnished on 22.11.2004; and that upon completion of adjudication proceedings, the refund claim was sanctioned and the amount was paid by the Department to the assessee on 03.01.2006. 6. Section 11B ibid deals with the manner of claiming....
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....fund amount was not paid within three months from the date of its filing, the assessee is entitled for interest from the date of expiry of three months from filing the refund application i.e. 21.02.2005, till the date of actual payment of the refund amount i.e. 03.01.2006. 8. The issue regarding payment of interest on delayed sanction of the refund claim is no more res integra and stands settled by the judgment of Hon'ble Supreme Court in the case of Ranbaxy Laboratories Ltd. - Vs. - Union of India, reported in 2011 (273) E.L.T. 3 (S.C.). The relevant paragraph in the said judgment is extracted herein below:- "9. It is manifest from the afore-extracted provisions that Section 11BB of the Act comes into play only after an order for refund ....