{"id":6053,"date":"2007-02-26T00:00:00","date_gmt":"2007-02-25T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/sri-vasavi-industries-ltd-vs-commissioner-of-c-ex-on-26-february-2007"},"modified":"2017-02-03T06:46:36","modified_gmt":"2017-02-03T01:16:36","slug":"sri-vasavi-industries-ltd-vs-commissioner-of-c-ex-on-26-february-2007","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/sri-vasavi-industries-ltd-vs-commissioner-of-c-ex-on-26-february-2007","title":{"rendered":"Sri Vasavi Industries Ltd. vs Commissioner Of C. Ex. on 26 February, 2007"},"content":{"rendered":"<div class=\"docsource_main\">Customs, Excise and Gold Tribunal &#8211; Calcutta<\/div>\n<div class=\"doc_title\">Sri Vasavi Industries Ltd. vs Commissioner Of C. Ex. on 26 February, 2007<\/div>\n<div class=\"doc_bench\">Bench: S T Chittaranjan<\/div>\n<\/p>\n<pre><\/pre>\n<p>ORDER<\/p>\n<p>Chittaranjan Satapathy, Member (T)<\/p>\n<p>1. Heard both sides.\n<\/p>\n<p>2. The appellants paid interest @ 24% on account of delayed payment of Excise Duty by debiting their PLA account. Subsequently, they realized that they should have paid interest only @ 13% as required by law. Hence they applied for refund of the excess interest amount paid by them. The authorities below have rejected their refund claim.\n<\/p>\n<p>3. After hearing both sides, I find that the appellants are entitled to refund of the excess interest paid by them. Since the amount was paid by debiting in the PLA, they are permitted to take credit of the excess interest paid by them. I also find that in similar cases the Tribunal has allowed refund of excess interest paid vide Northern Minerals Ltd. v. CCE, Gurgaon reported in 2006 (77) RLT 500 (CESTAT-Del.). While taking credit of the excess amount, the appellants shall keep the Jurisdictional Officer informed. The appeal is allowed in above terms.\n<\/p>\n<p>(Dictated and pronounced in the open Court)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customs, Excise and Gold Tribunal &#8211; Calcutta Sri Vasavi Industries Ltd. vs Commissioner Of C. Ex. on 26 February, 2007 Bench: S T Chittaranjan ORDER Chittaranjan Satapathy, Member (T) 1. Heard both sides. 2. The appellants paid interest @ 24% on account of delayed payment of Excise Duty by debiting their PLA account. Subsequently, they [&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-6053","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>Sri Vasavi Industries Ltd. vs Commissioner Of C. 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