2023 (3) TMI 170

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Appellant Shri Gopi Raman, Authorised 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/- w....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....appellant and department filed the appeal before Hon'ble Tribunal against 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 appeal....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....etter to resolve those discrepancies. 02.09.2020 Appellant removed all those discrepancies. 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 ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ELT 219 (Tri.-All), wherein this Tribunal have held that interest on refund of amount deposited during investigation 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 20....