Tag Archives: Section 11BB

No interest payable on delayed refund of fine or penalty

Q : Assessee paid duty, fine and penalty under protest . On assessee becoming entitled to refund thereof, Tribunal directed Commissioner to pay interest at 12 per cent on “amount of refund .Whether interest on delayed refunds is payable on duty  only or on fine and penalty also ? Interest on delayed refunds would be payable to… Read More »