https://www.taxtmi.com/caselaws?id=434021 Karnataka HC allowed petitioner's claim for interest on wrongfully encashed bank guarantees. The court held that petitioner was illegally deprived of Rs.4,73,26,512/- from 29.03.2019 to 05.01.2022 when respondents wrongfully withheld the amount. Applying restitution principles, the court awarded 6% per annum interest for the period, finding the respondent's order denying interest refund contrary to law and facts. The impugned order was set aside and petition allowed in part. en-us Thu, 24 Nov 2022 00:00:00 +0530 Mon, 14 Apr 2025 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434021 Karnataka HC allowed petitioner's claim for interest on wrongfully encashed bank guarantees. The court held that petitioner was illegally deprived of Rs.4,73,26,512/- from 29.03.2019 to 05.01.2022 when respondents wrongfully withheld the amount. Applying restitution principles, the court awarded 6% per annum interest for the period, finding the respondent's order denying interest refund contrary to law and facts. The impugned order was set aside and petition allowed in part. Case-Laws GST Thu, 24 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434021