https://www.taxtmi.com/caselaws?id=167922 Refund under section 41(1) of the Punjab Value Added Tax Act, 2005 can be withheld only on strict compliance with the statutory preconditions, including a pending appeal or proceeding and a recorded satisfaction, with Commissioner's approval, that release of the refund would adversely affect revenue. As the withholding order did not disclose such satisfaction or any revenue prejudice, it was invalid and quashed. Once the appellate order went in favour of the assessee, the retained amount became refundable, and interest became payable after expiry of the relevant period from that date. The assessee was therefore entitled to refund with interest in accordance with law. en-us Tue, 31 Jan 2012 00:00:00 +0530 Fri, 09 Jan 2015 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167922 Refund under section 41(1) of the Punjab Value Added Tax Act, 2005 can be withheld only on strict compliance with the statutory preconditions, including a pending appeal or proceeding and a recorded satisfaction, with Commissioner's approval, that release of the refund would adversely affect revenue. As the withholding order did not disclose such satisfaction or any revenue prejudice, it was invalid and quashed. Once the appellate order went in favour of the assessee, the retained amount became refundable, and interest became payable after expiry of the relevant period from that date. The assessee was therefore entitled to refund with interest in accordance with law. Case-Laws VAT and Sales Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167922