Unspent Current Account Amount Deemed Excise Duty; Refund Delays Over Three Months Will Accrue Interest u/ss 11B, 11BB.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Refund claim - unspent amount lying in the current account (PLA) of an assessee - Once it is held that the unspent amount in “PLA” is duty of excise, a fortiori Section 11B and Section 11BB would be attracted. If the refund claimed on account of unspent amount in PLA is not paid within three months, it shall become payable with interest till it is actually paid. - HC....