CESTAT ruled in favor of refunding interest under Section 72 of Finance Act, 2010 for retrospective amendment. Tribunal upheld interest on excess credit.

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....The case involved a claim for refund of interest u/s 72 of Finance Act, 2010 to benefit from a retrospective amendment to Rule 6 of CCR, 2002/2004. The Tribunal held that the appellant's claim for refund of interest was not valid as the interest had already been paid in compliance with the retrospective amendment. The Tribunal noted that the appellant failed to provide evidence of filing a refund claim for the interest paid on reversed credit. Regarding excess credit, the Tribunal upheld the rejection of interest refund for Rs. 88,22,475/- but allowed interest on Rs. 1,00,10,808/- from three months after filing the refund claim. The impugned orders were modified accordingly, and the appeal was disposed of.....