https://www.taxtmi.com/caselaws?id=450002 SC held that respondents failed to comply with HC order regarding refund of excess payment. Appellant entitled to refund for period January 2007-March 2008 with 12% annual interest, not previously paid despite court directions. For January 2005-December 2005 period, respondents incorrectly applied 3.5% bank rate instead of mandated 12% interest rate as per earlier SC judgment in Ashoka Smokeless Coal Industries case. Court directed payment of differential interest amount within two months, with personal liability for concerned officers upon default. Appeal disposed of with directions for compliance. en-us Thu, 22 Feb 2024 00:00:00 +0530 Fri, 23 Feb 2024 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450002 SC held that respondents failed to comply with HC order regarding refund of excess payment. Appellant entitled to refund for period January 2007-March 2008 with 12% annual interest, not previously paid despite court directions. For January 2005-December 2005 period, respondents incorrectly applied 3.5% bank rate instead of mandated 12% interest rate as per earlier SC judgment in Ashoka Smokeless Coal Industries case. Court directed payment of differential interest amount within two months, with personal liability for concerned officers upon default. Appeal disposed of with directions for compliance. Case-Laws Indian Laws Thu, 22 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450002