https://www.taxtmi.com/caselaws?id=246984 Interest is payable on tax amounts actually refunded when the refund remains unpaid beyond the prescribed period under the refund provisions of the U.P. Trade Tax Act, 1948 and the U.P. VAT Act. The Court distinguished such refunds from amounts merely adjusted against existing liabilities, which are dealt with through the adjustment mechanism and do not stand on the same footing as cash refunds. Relying on earlier Division Bench authority and the departmental circular, the Court held that the department cannot retain money that ought to have been returned and directed computation and payment of interest in accordance with law. en-us Thu, 18 Jul 2013 00:00:00 +0530 Sat, 22 Mar 2014 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246984 Interest is payable on tax amounts actually refunded when the refund remains unpaid beyond the prescribed period under the refund provisions of the U.P. Trade Tax Act, 1948 and the U.P. VAT Act. The Court distinguished such refunds from amounts merely adjusted against existing liabilities, which are dealt with through the adjustment mechanism and do not stand on the same footing as cash refunds. Relying on earlier Division Bench authority and the departmental circular, the Court held that the department cannot retain money that ought to have been returned and directed computation and payment of interest in accordance with law. Case-Laws VAT and Sales Tax Thu, 18 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246984