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SURYA PRAKASH KESARWANI, RAJARSHI BHARADWAJ
Rajendra Kumar Jain – Appellant
Versus
Commissioner Of Customs (Port) Kolkata – Respondent
JUDGMENT :
1. Heard Sri Sudhir Mehta, learned counsel for the appellant and Sri K. K. Maiti, learned senior standing counsel, assisted by Sri Abhradip Maity, learned junior standing counsel for the respondents.
2. This appeal was admitted by this Court by order dated 14.06.2012, on the following substantial question of law:-
Facts
3. Briefly stated, facts of the present case are that on 20th August 1998, a sum of Rs.9,93,200/-was seized by the Director of Revenue Intelligence on the ground that it was liable to confiscation being sale proceeds of the goods which was liable for confiscation. By order dated 30.11.2018, the Adjudicating Authority held that the seized cash is not liable for confiscation but it imposed penalty of Rs.65 lakh upon the appellant and the aforesaid sum of Rs.9,93,200/-was sought to be appropriated against the penalty. The appellant preferred an appeal before the Customs, Excise and Service Tax Appellate Tribunal [for short, ‘CESTAT’], in which, by order dated 22nd April 2000, the Tribunal directed that the afo
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.
The court ruled that interest is payable on delayed refund of pre-deposit after three months from the application date, as pre-deposits do not equate to duty or penalty payments.
Appellant entitled to interest on delayed refund as per Sections 11B and 11BB of the Central Excise Act, which specifically governs the timing and rate of interest applicable.
Appellants are entitled to 12% interest on delayed rebate claims per Section 11BB of the Central Excise Act, 1944 due to inordinate delay.
The requirement of a formal application for refund under Section 11B of the Central Excise Act, 1944, is a statutory mandate, and interest on a delayed refund is payable from the date of receipt of s....
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.
The petitioner is entitled to interest at 6% per annum on delayed refund from the date of application, as per statutory provisions of the Customs Act.
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....
Trustees cannot retain interest earned on funds held in trust; they must account for all earnings to the beneficiary.
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