TaxTMI 
TaxTMI 
2021 (11) TMI 759
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....rder of the tribunal. 2. Whether the rate of interest should be 6% or 15% or any other rate. 3. Whether the appellant is entitled for interest on interest. 2. Shri S.Sunil, Learned counsel appearing on behalf of the appellant filed written submission dated 15.11.2021 and argued the same. 3. Shri G.kirupanandan, Learned Superintendent(AR) appearing on behalf of the revenue reiterates the finding of the impugned order and has also submitted written submission dated 15.11.21 which is taken on record and considered. 4. We have carefully considered the submission made by both the sides and perused the records. As regard the first issue we find that in the earlier round of litigation in the same case this tribunal in th....
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....xcept quantification of duty, which he appears to have done at a belated stage. As per the Board's instructions interest liability arises from the date of finalization of assessment. In the present case the assessment came to be finalized by the order dated 3.1.2006 of the Tribunal as the said order was not stayed at any point of time and the appeal against the same came to be dismissed. Hence, liability to pay interest would arise from the date of the order of the Tribunal. In the circumstances, the impugned order of the Tribunal confirming the order made by Commissioner (Appeals) does not suffer from any legal infirmity so as to warrant interference 9. In absence of any question of law, much less any substantial question of law, ....
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....e any rate of interest different than prescribed under the statute. Therefore, Learned Commissioner (Appeals) has rightly held that the Adjudicating Authority has rightly applied simple rate of interest as 6% P.a. Therefore, the assesseee cannot be granted interest at the rate of 15% or any other rate above 6%. 4.2 As regard the issue whether the appellant is entitled for interest on interest amount. We find that the appellant has heavily relied upon the Hon'ble Supreme Court Judgment in Sandvik Asia Ltd CIT 2006 (196) ELT 257 (SC). The Learned Commissioner (Appeals) on this issue given the following finding: "6.4. The adjudicating authority has rejected another amount of refund claimed by the appellant, which turned out to be i....
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....se whereby it was observed that the judgement relating to the Income Tax or other statutes have no relevance while considering a provision in an Excise statute. Even though we are not concerned in the matter in hand regarding the interpretation of any statutory provision in Customs Act as such, to ascertain the scope of powers of the statutory authorities functioning under the Customs Act, we cannot have assistance of the decision which was delivered in relation to the scope of powers of the authorities functioning under Income Tax Act or other taxing statutes. Having said so, I am also guided by the Larger Bench decision in the case Sun Pharmaceuticals Industries Ltd. v. Commissioner [2005 (185) E.L.T. 253 (Tribunal-LB)], which has also be....