Where Stay application against the Order sanctioning refund claim has been rejected, there is no reason for the Revenue to stop refund
Court :
High Court, Karnataka
Brief :
The Hon’ble High Court of Karnataka held that there was no reason for the Department not to effect refund. The question as to unjust enrichment is before the Tribunal and all arguments in that regard would be considered by the Tribunal. In the absence of any stay, the Department was directed to refund the amount to the Petitioner with interest at the rate of 12% per annum and not at 6% per annum as prescribed by Section 11BB of the Central Excise Act, 1944, as it is not a case of mere delay in refund.
Citation :
Madura Coats (P.) Ltd. Vs. Union of India [(2015) 53 taxmann.com 152 (Karnataka)
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Judgement posted by
Bimal Jain
Service
FCA, FCS LLB with21 Yrs of Experience inTaxation Indirect and Direct: Education Qualification: B.Com (Hons) Chartered Accountants Company Secretary LLB Qualified SAP FI/CO Consultants Professional Membership: Chairmanof Indirect Tax Committee of PHD Chamber of Commerce Member of Indirec ... Read more
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