{"id":115704,"date":"2006-03-17T00:00:00","date_gmt":"2006-03-16T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/star-trading-co-vs-commissioner-of-cus-and-c-ex-on-17-march-2006"},"modified":"2018-07-22T08:33:18","modified_gmt":"2018-07-22T03:03:18","slug":"star-trading-co-vs-commissioner-of-cus-and-c-ex-on-17-march-2006","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/star-trading-co-vs-commissioner-of-cus-and-c-ex-on-17-march-2006","title":{"rendered":"Star Trading Co. vs Commissioner Of Cus. And C. Ex. &#8230; on 17 March, 2006"},"content":{"rendered":"<div class=\"docsource_main\">Customs, Excise and Gold Tribunal &#8211; Mumbai<\/div>\n<div class=\"doc_title\">Star Trading Co. vs Commissioner Of Cus. And C. Ex. &#8230; on 17 March, 2006<\/div>\n<div class=\"doc_bench\">Bench: A Wadhwa<\/div>\n<\/p>\n<pre><\/pre>\n<p>ORDER<\/p>\n<p>Archana Wadhwa, Member (J)<\/p>\n<p>1. The dispute in the present appeal is in respect of interest amount on the maturity value of the National Certificates furnished by the appellant as securities. Deputy Commissioner sanctioned the refund claim who held that appellants claim for interest and compensation is not valid and tenable inasmuch as, encashment of NSC cannot be considered to be and outstanding Government dues against the appellant.\n<\/p>\n<p>2. On appeal Commissioner (Appeals) rejected the appellant&#8217;s claim on the ground that the matter does not relate to refund of Excise duty but relates to release of National Saving Certificates. Since release of security cannot be equated with refund of duty covered under Section 11B of Central Excise Act, the question of grant interest does not arise, he accordingly rejects the claim.\n<\/p>\n<p>3. On hearing the appellant and Id. DRI fully agree with the above reasoning of the appellate authority. The prime and the main issue was release of National Saving Certificates entered as a security in respect of L4 bond and for holding L5 licence for storage of non-duty paid tobacco in the bonded warehouse. The same was not refund claim covered by the provisions of Section 11B, in which case the authorities below have rightly held that the provisions of Section 11BB for grant interest will not get attract. In view of the above, the appeal is rejected.\n<\/p>\n<p>(Pronounced)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customs, Excise and Gold Tribunal &#8211; Mumbai Star Trading Co. vs Commissioner Of Cus. And C. Ex. &#8230; on 17 March, 2006 Bench: A Wadhwa ORDER Archana Wadhwa, Member (J) 1. The dispute in the present appeal is in respect of interest amount on the maturity value of the National Certificates furnished by the appellant [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-115704","post","type-post","status-publish","format-standard","hentry","category-judgements"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Star Trading Co. vs Commissioner Of Cus. And C. 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