https://www.taxtmi.com/caselaws?id=269336 Interest under section 23(2) of the Rajasthan Sales Tax Act, 1954 was held payable on a refund arising from set-off of tax because the amount had remained with the department and was refundable to the assessee. The provision was treated as compensatory, reflecting the time value of money and the loss caused by delayed refund. A narrow reading excluding set-off refunds was rejected, as it would permit arbitrary retention of money due to the dealer. The revision was therefore found to lack merit. en-us Tue, 26 Aug 2014 00:00:00 +0530 Sun, 13 Dec 2015 22:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269336 Interest under section 23(2) of the Rajasthan Sales Tax Act, 1954 was held payable on a refund arising from set-off of tax because the amount had remained with the department and was refundable to the assessee. The provision was treated as compensatory, reflecting the time value of money and the loss caused by delayed refund. A narrow reading excluding set-off refunds was rejected, as it would permit arbitrary retention of money due to the dealer. The revision was therefore found to lack merit. Case-Laws VAT and Sales Tax Tue, 26 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269336