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of <h1>Appeal dismissed; 15% interest ordered on excess security deposit for Form-31 refund despite no statutory provision</h1> <h3>The Commissioner of Trade Tax U.P. Versus M/s. Anuj Coal Agency.</h3> 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 ... 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 order dated 10-8-2010 passed by the High Court of Judicature at Allahabad in Trade Tax Revision No.1615/2006. Appeal dismissed. 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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