12% Interest on delayed excise duty refund allowable from deposit date till its realization

J. K. Cement Works Vs Commissioner, Central Excise, Central Goods and Service Tax (CESTA Delhi)  Conclusion: Adjudicating Authority was directed to grant interest from the date of deposit till the date of grant of a refund at the rate of 12% per annum. Such interest on refund should be granted within a period of 60 days from the date of receipt of, or service of a copy of the order. Held:  Assessee had preferred application for refund and also prayed for grant of interest. Adjudicating Authority was pleased to grant refund of the principal amount however, as regards the interest claim, the o...