2018 (1) TMI 424

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....er: Shri M V Ravindran This appeal is directed against OIA-AHM-SVTAX-000-APP-161-15-16 dt 31/03/2015. 2. Heard both sides and perused the records. 3. The issue that falls for consideration in this appeal is regarding denial of interest on the amount of refund of pre-deposit debited through cenvat account. 4. Briefly stated the facts of the case are that the appellants are duly registered with ....

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....lowed the claim for interest on the pre-deposit under Section 35FF, stating that there is no provision for payment of interest for debits made in Cenvat account. 5. Aggrieved by such an order, an appeal was preferred before the First Appellate Authority. The First Appellate Authority after following due process of law, rejected the appeal for demand of interest on amount which has been allowed cr....

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....thority, there shall not exceeding thirty-six percent per annum as is for the time being fixed by the Central Government, by notification in the Official Gazette, on such amount from the date of payment of the amount till, the date of refund of such amount." 6. It can be seen from the above reproduced Section, statute itself provides for an interest on refund of an amount deposited in furtherance....