Appeal dismissed; 15% interest ordered on excess security deposit for Form-31 refund despite no statutory provision The SC dismissed the appeal and upheld the HC's order directing payment of interest at 15% on the excess security deposited by the dealer for issuance of ...
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Appeal dismissed; 15% interest ordered on excess security deposit for Form-31 refund despite no statutory provision
The SC dismissed the appeal and upheld the HC's order directing payment of interest at 15% on the excess security deposited by the dealer for issuance of Form-31, from date of deposit to refund, despite no statutory provision for such interest under the Act. The SC found no grounds to interfere with the HC judgment and affirmed the refund with interest as ordered.
Having heard the learned counsel for the appellant - Revenue and having gone through the materials on record, the Court found "no good ground to interfere with the impugned order dated 10-8-2010 passed by the High Court of Judicature at Allahabad in Trade Tax Revision No.1615/2006." The Civil Appeal is, accordingly, "dismissed." All pending applications, if any, "stand disposed of." The decision rests on deference to the High Court's order without further interference, based on the record before the Court.
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