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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