Court Denies 12% Interest on Refund, Grants Interest per Section 129EE of Customs Act for Pre-Deposits.

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....Claim of interest on refund of amount deposited during the pendency of its appeal - The petitioner is not entitled to interest at 12% as was prayed by the petitioner. The petitioner is entitled to interest at the rates prevailing for refund under notifications issued from time to time under Section 129EE of the Customs Act, 1962 for refund of pre-deposit made under Section 129E - HC....