2023 (3) TMI 170

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....ised Representative for the Respondent ORDER The issue in this appeal is regarding grant of proper interest on the amount refunded, which was deposited during investigation. 2.  The brief facts are as follows: Date Particulars 15/16.10.2010 Search was conducted in the business premises of the appellant 27.10.2010 Rs.75,00,000/- was deposited by the Appellant on the behest of the depa....

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....inst the order in original. 26.08.2013 Refund application for the remaining amount of Rs.3415730/- was filed by the appellant. 29.09.2015 The refund was sanctioned but no interest was given on the sanctioned amount. 14.03.2017 Hon'ble Tribunal vide their Final Order No. 5253452538/2017 set aside the order appealed against and remanded all the appeals i.e both appellant and department appeal ....

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....05.02.2021  Rs. 22,84,270/- were sanctioned by the department and said amount was refunded to the appellant. But the said amount was paid without paying any interest on the refund amount. 27.09.2021 Appellant filed an appeal against the OIO dated 05.02.2021 in respect of not granting of interest on refund amount. 31.01.2022 The Comm. Appeal allowed the interest but the same has been not ....

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....tion or deposited during pendency of appeal is allowable under Section 35EE of the Act and has to be paid from the date of deposit till the date of refund. The Division Bench have followed the ruling of Hon'ble Supreme Court in Sandvik Asia Ltd. Vs. Commissioner of Income Tax-I, Pune 2006 196 ELT 257 (SC). Learned Counsel further urges that the ruling of Division Bench of the Tribunal in Parle Agr....