https://www.taxtmi.com/caselaws?id=271731 An industrial policy deferment notification was construed as a whole to preserve both the eligibility period and the outer repayment limit; the thirteen-year cap had to run from the original start of deferment, so the repayment schedule had to conclude by 31.08.2013. On delayed repayment, the Court treated the facts as special and did not apply penalty, while directing payment of interest at a reduced rate of 12% per annum. The interpretive principle stated was that a taxing notification must be read according to its plain words, but in a manner that maintains the scheme and avoids an absurd or self-defeating result. en-us Fri, 12 Feb 2016 00:00:00 +0530 Fri, 03 Nov 2023 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271731 An industrial policy deferment notification was construed as a whole to preserve both the eligibility period and the outer repayment limit; the thirteen-year cap had to run from the original start of deferment, so the repayment schedule had to conclude by 31.08.2013. On delayed repayment, the Court treated the facts as special and did not apply penalty, while directing payment of interest at a reduced rate of 12% per annum. The interpretive principle stated was that a taxing notification must be read according to its plain words, but in a manner that maintains the scheme and avoids an absurd or self-defeating result. Case-Laws VAT and Sales Tax Fri, 12 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271731