12% Interest payable on excise duty deposited under protest during investigation

Gautam Industries Vs Commissioner of C.E. & S.T (CESTAT Chandigarh) Hon’ble Madras High Court in the case of CCE Chennai-II vs. UCAL Fuel Systems Ltd – 2014 (306) ELT 26 (Mad.) has held that the assessee is entitled to payment of interest from the date of deposit till the date of realization. He also submitted that this Tribunal in the case of Marshall Foundry & Engg. Pvt Ltd vs. CCE Faridabad vide Final Order No. A/61058­61062/2019 dt. 28.11.2019 allowed the interest @12% p.a. from the date of deposit till its realization. Similar view was taken by this Tribunal in the case of Lo...