Back
K. R. SHRIRAM, JITENDRA JAIN
Ramkaran Karwa – Appellant
Versus
Union of India, through the Secretary, New Delhi – Respondent
JUDGMENT :
JITENDRA JAIN, J.
1. Rule. By consent of the parties heard finally since the pleadings were completed.
2. Writ Petition (Stamp) No. 26523 of 2024 not on board, but by consent of the parties is taken up for hearing alongwith the present writ petition since the issue involved is common. However, in the present order, facts relating to Writ Petition No. 12299 of 2024 are narrated for sake of convenience.
3. By this petition under Article 226 of the Constitution of India, Petitioner is seeking for quashing of Order-in-Original (O-I-O) dated 5th July 2024 whereby Respondents have granted interest @ 6% per annum on the amount refunded to Petitioner by rejecting the claim of Petitioner to grant interest @ 18% per annum.
Brief undisputed and admitted facts are as under:
4. On 29th August 2011, an investigation was initiated by Respondent No. 4 against one Perfect Containers Pvt. Ltd. In the course of the investigation, Petitioner’s residence premises were searched and a sum of Rs.2,06,33,000/- was seized on the allegation that same constitutes unaccounted receipts arising out of sales made by Perfect Containers Pvt. Ltd. In the course of said investigation Rs.15,94,000/- was also seiz
Trustees cannot retain interest earned on funds held in trust; they must account for all earnings to the beneficiary.
The court established that interest on delayed refunds of pre-deposits can be claimed at 12% per annum based on judicial precedents, despite the absence of a specific statutory provision at the time.
Deposits made at departmental insistence during investigation under mistaken duty notion are not 'duty' under Section 11B; refundable with 12% interest from deposit to refund date.
Deposits made during investigation at department's insistence under mistaken duty notion are not 'duty'; Section 11B inapplicable; refundable with 12% interest from deposit to refund date.
Interest on delayed refunds under Section 11BB of the Central Excise Act is payable only after three months from the date of receipt of the refund application, not from the date of deposit.
There is always peril in treating the words of a speech or judgment as though they are words in a legislative enactment, and it is to be remembered that judicial utterances made in the setting of the....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
