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Showing contexts for: parle agro in Batra Henlay Cables vs Commissioner, Central Excise &Amp ... on 5 January, 2022Matching Fragments
4. Learned Counsel for the appellant further urges that in view of the ruling of the Division Bench of Tribunal in Parle Agro (P) Ltd., vs. Commissioner, CGST-2021-TIOL-306-CESTAT-ALL, interest may be granted @ 12% p.a. from the date of deposit till date of realisation/ refund i.e. from 27.05.1998 on Rs. 15 lakh and from 30.09.1998 on Rs. 10 lakh upto 08.10.2020.
5. Learned Authorised Representative appearing for the Revenue relies on the impugned order.
6. Having considered the rival contentions, I find that in similar facts and circumstances, Division Bench of this Tribunal in Parle Agro (P) Ltd., vs. Commissioner, CGST-2021-TIOL-306- CESTAT-ALL, following the ruling of the Apex Court in Sandvik Asia Ltd., - 2006 (196) ELT 257 (SC). has been pleased to grant interest @ 12% p.a. from the date of deposit till the date of grant of refund, with reference to Section 35FF of the Central Excise Act. The Court below is directed to disburse the interest on refund @ 12% p.a. Excise Appeal No. 50431 of 2021-SM from the date of deposit till the date of refund within a period of 45 days from the date of receipt or service of the copy of this order.