TaxTMI 
TaxTMI 
2022 (3) TMI 5
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....period from 2006-2007 to 2008-09. 2. The brief facts are that a Show Cause Notice F. No. V(Ch. 72)15-46/Commr/RPR/2011/Adj/5989 dated 25/07.2011 was issued proposing recovery of Cenvat credit amounting to Rs. 1,15,16,118 with interest and penalty alleging that the Appellant had wrongly taken Cenvat credit on Concast Blooms, Structural Cobbles and Rail Cuttings, since the same were never used in manufacture of final products. The aforesaid SCN was adjudicated by the Ld. Commissioner, Central Excise, Raipur vide Order-in-Original No. COMMISSIONER/RPR/CEX/84/2012 dated 31.10.2012, wherein the allegation in the SCN was confirmed by upholding the demand of Cenvat credit amounting to Rs. 1,15,16,118 with interest,and imposition of equal penalty.....
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....s rejected by a non-speaking order. Accordingly, the appellant preferred appeal before the ld. Commissioner (Appeals) claiming interest on the pre-deposit amount, from the date of deposit till the date of the amount refunded to it, i.e. upto 26.5.2017. The ld. Commissioner (Appeals) vide the impugned order-in-appeal dated 22.03.2018 held that refund was sanctioned to the appellant on 26.5.2017 i.e. within 3 months from the date of the refund claim dated 4.4.2017, therefore, the appellant is not entitled to interest on the pre-deposit amount of Rs. 1,15,16,118/-. It was further observed that Board Circular also clarified that refund of pre-deposit has to be granted within 3 months of the order passed by the Tribunal/High Court, accordingly, ....
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....ally held in the following cases that the provisions of Section 35FF of the Central Excise Act and Section 243 of the Income Tax Act, 1961 are parimateria, and thus, the assessee are entitled to interest on the refund amount from the date of payment/deposit till the date of disbursal: * J.K. Cement Works v. CE & CGST, Udaipur - 2021 (3) TMI 123 - CESTAT NEW DELHI * Hindustan Perfumers v. CGST, Delhi,2022 (2) TMI 138 - CESTAT NEW DELHI * Parle Agro Pvt. Ltd. v. CGST, Noida (Vice-Versa) - 2021 (5) TMI 870 - CESTAT ALLAHABAD * Tehri Pulp & Paper Limited v. CGST, Meerut (U.P.),2022 (1) TMI 807 - CESTAT ALLHABAD * Dwarikesh Sugar Industries Ltd. v. CGST, Greater Noida,2022 (1) TMI 314 - CESTAT ALLHABAD * Batra Henlay Cables v. C....
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....hat is the nature of interest that the petitioner is entitled to get. As discussed above in the judgment Commissioner of Central Excise v. ITC (supra), the Apex Court confined the interest to 12% and further held that any judgment/decision of any High Court taking contrary view, will be no longer good law. The said judgment is rendered, in my considered opinion under similar circumstances. So also in Kuil Fire Works Industries v. Collector of Central of Excise [1997 (95) E.L.T. 3 (S.C.), the pre-deposit made by the assessee was directed to be returned to him with 12% interest. I have also come across the judgment of the Calcutta High Court in Madura Coats Pvt. Ltd. v. Commissioner of C. Ex., Kolkata-IV [2012 (285) E.L.T. 188 (Cal.), wherein....
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....se Ghaziabad Ship Breakers Pvt.Ltd.-2010 (260) ELT 274 (Tri. Ahmd.), wherein this Tribunal observed as under:- "5. I have considered the submissions made by both the sides. I notice that appellants deposited amount in September, October and in November 2004, as per the directions of the department. In September 2004, the Hon'ble Gujarat High Court had dismissed the SCA filed by the appellants against the order of the Tribunal rejecting the appeal for failure to make the pre- deposit. This SCA was dismissed in September 2004 and SLP was filed in the Hon'ble Supreme Court in October 2004. In July 2005, the Hon'ble Supreme Court ordered that if the amount directed to be deposited by the Tribunal is deposited, the appeals before t....