2025 (9) TMI 868 - SCH - VAT / Sales Tax

Appeals dismissed; 15% interest ordered on excess security deposited for Form-31 from deposit date to refund date

The Commissioner Of Trade Tax U.P. Versus M/s. Prakash Coal Supplier.

SC dismissed the appeals and upheld the HC orders directing payment of interest at 15% on the excess security deposited for issuance of form-31, from date ... Direction for payment of interest on different rate whereas there is no provisions under the Act of payment of interest on the excess amount so deposited by the dealer against the security for issuance of form-31 - it was held by High Court that 'Since it is admitted to the State that the security amount deposited by the assessee was found excess, it would carry interest at the rate of 15% from the date of deposit to the date of refund.' HELD THAT:- There are no good ground to interfere with the impugned orders dated 10-8-2010 and 13-01-2010 respectively passed by the High Court of Judicature at Allahabad in Trade Tax Revision No. 1614/2006 and Trade Tax Revision No. 336/2002 respectively. The Civil Appeals are, accordingly, dismissed. The Supreme Court, after hearing counsel for the appellant-Revenue and perusal of the record, affirmed the High Court of Judicature at Allahabad's orders dated 10-08-2010 and 13-01-2010 in Trade Tax Revision Nos. 1614/2006 and 336/2002. The Court stated it 'find[s] no good ground to interfere with the impugned orders,' and therefore dismissed the Civil Appeals. All pending applications were also disposed of. The decision rests on an appellate assessment of the materials on record and concludes there is insufficient legal or factual basis to disturb the High Court's determinations in the trade tax revision proceedings.