CESTAT Grants Interest on Pre-Deposit Refund Under Pre-Amended Provisions of Excise Act

CESTAT granted interest on a pre-deposit refund under the pre-amended provisions of the Excise Act. The tribunal held that the assessee is entitled to interest from the date of deposit until the date of refund. This decision provides relief to taxpayers who made pre-deposits under the excise regime. It clarifies the applicability of interest on such refunds based on the law prevailing at the time of deposit. The ruling ensures that taxpayers are compensated for the period their funds were held by the department.