2008 (10) TMI 20

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....pril, 1990, the Tribunal passed Order No.154-Cal/1990-154 allowing the assessee's appeal. By the said order, Revenue was directed to refund the redemption fine and penalty within thirty days and in default the Department was liable to pay interest at the rate of 12%. We quote hereinbelow the operative part of the order passed by the Tribunal, which reads as under: 1  "In the result, the appeal of M/s. B.Arun Kumar & Co., Bombay, succeeds. The impugned order passed by the learned Collector dated 31.10.86 is hereby set aside. We hereby direct the respondents to refund the redemption fine and penalty paid by the Appellants in terms of the above-said order within a period of one month from the date of receipt of this order. In the event....

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....ingly granted by the Department on 11th July, 2000 even when the Reference was pending in the High Court. No appeal was filed by the Department against the grant of refund of Rs.45,59,733/-. The assessee received the said amount of Rs.45,59,733/-. Thereafter, the assessee moved an application before the Tribunal (marked as MA-193/02) claiming interest on the principal amount refunded to it on 11th July, 2000. This application was disposed of by the Tribunal vide order dated 19th December, 2002 by which the Commissioner was directed to decide on the application for interest as calculated and claimed by the assessee. The Commissioner rejected the claim for interest vide order dated 12th May, 2003. This order was challenged by the assessee ....

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.... stayed the order of refund dated 30th April, 1990 till disposal of the Reference by the High Court. It is in these circumstances that we had directed respondent-assessee herein to deposit in the Registry of this Court Rs.45,00,000/- together with interest at 9% interest from 11th July, 2000 (being the date on which the respondent-assessee received Rs.45,00,000/-). The respondent-assessee has complied with the directions of this Court contained in the order dated 19th August, 2008. The assessee has deposited a sum of Rs.79,36,058.52 vide Demand Drafts favouring the Deputy Registrar (Administration), Supreme Court of India, as indicated in its affidavit dated 11th October, 2008 (see page 88 of the paper book). In the above circumstance....