https://www.taxtmi.com/caselaws?id=163107 Interest under Section 29(2) of the U.P. Trade Tax Act becomes payable where a refund is not released within the prescribed 90-day verification period, even if the authorities conduct bona fide verification. The refund amount had already been found payable and returned, but the interest component was withheld. Applying the earlier court view that verification does not displace statutory interest liability after expiry of the statutory period, the refusal to pay interest was unsustainable and the petitioner was entitled to interest on the delayed refund. en-us Thu, 07 Oct 2004 00:00:00 +0530 Sat, 22 Mar 2014 10:51:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163107 Interest under Section 29(2) of the U.P. Trade Tax Act becomes payable where a refund is not released within the prescribed 90-day verification period, even if the authorities conduct bona fide verification. The refund amount had already been found payable and returned, but the interest component was withheld. Applying the earlier court view that verification does not displace statutory interest liability after expiry of the statutory period, the refusal to pay interest was unsustainable and the petitioner was entitled to interest on the delayed refund. Case-Laws VAT and Sales Tax Thu, 07 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163107