2020 (3) TMI 653

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....nt. Shri T.K. Sikdar, Assistant Commissioner (AR), for the Respondent. ORDER These appeals have been filed by appellants against denial of interest for the period prior to introduction of Section 35FF. 2. Ld. Counsel appearing on behalf of the appellant pointed out that they had availed refund schemes on the following dates : Appeal No. Name of the appellant Period E/1....

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....oratories Ltd. v. Union of India, 2011 (273) E.L.T. 3 (S.C.). He also relied on the Board's Circular No. 670/61/2002-CX, dated 1-10-2002. 3. Ld. AR relies on the impugned order. 4. I have considered rival submissions. I find that the issue has been clarified by Hon'ble Apex Court in the case of Ranbaxy Laboratories Ltd. (supra). In the said case, Hon'ble Apex Court has examined the....

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.... "A close reading of Section 11BB, which now governs the question relating to payment of interest on belated payment of interest, makes it clear that relevant date for the purpose of determining the liability to pay interest is not the determination under sub-section (2) of Section 11B to refund the amount to the applicant and not to be transferred to the Consumer Welfare Fund but the relevant ....

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....elhi High Court. It is evident from a bare reading of the decision that insofar as the reckoning of the period for the purpose of payment of interest under Section 11BB of the Act is concerned, emphasis has been laid on the date of receipt of application for refund. In that case, having noted that application by the assessee requesting for refund, was filed before the Assistant Commissioner on 12t....