https://www.taxtmi.com/caselaws?id=392613 The court ruled in favor of the petitioner, determining that they are entitled to receive the amount deducted as tax in the currency agreed upon in the contract with ONGC, which is US Dollars. The court emphasized the importance of honoring contractual payment terms and directed ONGC to release the refund amount in US Dollars, compensating for any exchange rate variances. Interest accrual was clarified, and any ongoing disputes between ONGC and the State were left open for potential future resolution. The decision ensures compliance with the contractual obligations and mandates ONGC to fulfill the refund terms promptly. en-us Mon, 16 Sep 2019 00:00:00 +0530 Sat, 07 Mar 2020 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392613 The court ruled in favor of the petitioner, determining that they are entitled to receive the amount deducted as tax in the currency agreed upon in the contract with ONGC, which is US Dollars. The court emphasized the importance of honoring contractual payment terms and directed ONGC to release the refund amount in US Dollars, compensating for any exchange rate variances. Interest accrual was clarified, and any ongoing disputes between ONGC and the State were left open for potential future resolution. The decision ensures compliance with the contractual obligations and mandates ONGC to fulfill the refund terms promptly. Case-Laws VAT and Sales Tax Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392613