2021 (7) TMI 1138

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....cate for the Appellant Shri P. Juneja, Authorized Representative for the Respondent ORDER The issue in this appeal is whether the appellant is entitled to interest under Section 35FF for the amount deposited by way of pre-deposit as per the stay order of this Tribunal on being successfully in appeal. 2. The brief facts are that the demand of excise duty of Rs. 19,62,211/- was imposed o....

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....ust, 2017 i.e. within three months of the date of final order of this Tribunal. 3. Being aggrieved, the appellant is before this Tribunal. 4. The learned Counsel for the appellant, Shri Rajesh Chhibber urges that the learned Commissioner (Appeals) have mis-directed himself and passed the wrong order by relying on Section 11BB. In the facts of the present case interest is payable to the asses....

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....ay of compensation for depriving the assessee of its money resulting in financial loss suffered and accordingly interest has to be paid @ 12% from the date of deposit till the date of refund of any amount found to have been collected or retained by Revenue illegally or without authority of law. Following the ruling of the Apex Court in Sandvik Asia Ltd. (supra), this Tribunal Division Bench have h....