referred as the Act, for short, on the Excise
Refund and Interest Subsidy, etc., holding that the
Excise Refund and Interest Subsidy etc. received ... thereto and the Statutory
Central Excise Notifications issued in this respect
governing the refund of Excise Duty and Interest
5
Subsidy, as incentives
excise
duty refund cannot be withheld by the central excise authority.
27. Section 11B of the Central Excise Act, 1944 deals with
claim for refund ... Central Excise
Act, 1944 on the excise duty refunded to them. The
jurisdictional excise officers shall now determine the interest
amount payable to the petitioners
excise
duty refund cannot be withheld by the central excise authority.
27. Section 11B of the Central Excise Act, 1944 deals with
claim for refund ... Central Excise
Act, 1944 on the excise duty refunded to them. The
jurisdictional excise officers shall now determine the interest
amount payable to the petitioners
excise
duty refund cannot be withheld by the central excise authority.
27. Section 11B of the Central Excise Act, 1944 deals with
claim for refund ... Central Excise
Act, 1944 on the excise duty refunded to them. The
jurisdictional excise officers shall now determine the interest
amount payable to the petitioners
same had been directly taken to reserves and surplus as
excise refund interest subsidy reserves. The PCIT was of the opinion that section
115JB made ... thereto and the
statutory Central excise notifications issued in this respect governing the refund of
excise duty and interest subsidy, as incentives to the industrial
conclusion of the Hon'ble Court is that:
"Excise refund and interest subsidy received by the assessees in pursuance of
the incentives announced ... thereto and the statutory Central excise notifications issued in this respect
governing the refund of excise duty and interest subsidy, as incentives to the
industrial
exemption
from payment of excise duty. Based on these
notifications, the assessee claimed that excise refund
and interest subsidy was in the nature of capital ... exemption
from payment of excise duty. Based on these
notifications, the assessee claimed that excise refund
and interest subsidy was in the nature of capital
wherein it was held "that excise duty refund, interest
subsidy and insurance subsidy received with the object of creating
avenues for perpetual employment ... been said above, the finding of
the Tribunal that the excise duty refund, interest
subsidy and insurance subsidy were production incentives,
hence revenue receipt cannot
excise and interest may make an application for such
refund of duty and interest.
29. Section 11BB provides for interest on delayed refund.
It states ... interest in case revenue deposit has to be refunded, the
aid of the interest provisions under Section 11AA (which
deals with interest on delayed payment
excise and interest may make an application for such
refund of duty and interest.
29. Section 11BB provides for interest on delayed refund.
It states ... interest in case revenue deposit has to be refunded, the
aid of the interest provisions under Section 11AA (which
deals with interest on delayed payment
