- (1.) We have heard Sri R.C. Shukla, learned counsel for the department. This appeal was admitted and was heard on the following question of law :- Whether interest on refund amount granted consequent to an order passed by Appellate Tribunal is payable to the opposite party after three months from the date of such order as held by the Larger Bench in the case of M/s. Coronation Spinning India reported in , : 2004 (170) E.L.T. 143 (Tri.-LB) or after three months from the date of filing of original refund claim application as held by the Tribunal in this case vide Misc. order No. M/129/04-NB(C) dated 8-9-2004?
(2.) Brief facts of the case are as follows :-
(3.) M/s. J.K. Drugs & Pharmaceuticals Ltd., Gajraula engaged in the manufacture of P.P. Medicines falling under Central Excise Traffic Heading No. 2941.90 of Central Excise Tariff Act, 1985, filed claims amounting to Rs. 43,96,108.24 under Rule 57-F(4) of Central Excise Rules 1944, for refund of duty paid on inputs used in the manufacture of their final products, which were exported out of India under a bond without payment of Central Excise Duty. At the time of filing the claim, the relevant documents against which Modvat credit was taken, were not submitted. The appellant was asked to file the relevant documents. These documents were submitted on a latter date i.e. after issuance of Notification No. 6/97 (NT), dated 1-3-97. With the issuance of notification No. 6/97 (NT), dated 1-3-97, the credit of specified duties lying unutilized on the first day of March 1997, stood lapsed and could not be allowed to be utilized towards the payment of duty on excisable good whether cleared for home consumption, or for export.;