https://www.taxtmi.com/caselaws?id=768524 Statutory refund delay under the Jharkhand Value Added Tax Act may attract compensatory interest where excess tax remains unpaid beyond the prescribed period without justification. The Jharkhand High Court noted that delayed processing of a refund application, or withholding the amount after filing, cannot be excused by non-allocation of funds. It also accepted that the interest period may run from the date of the demand notice, adjusted for the time taken by the assessee to file the refund application after receipt of that notice. The decision therefore treats interest as recompense for deprivation of money during the period of wrongful retention. en-us Thu, 03 Apr 2025 00:00:00 +0530 Wed, 09 Apr 2025 07:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768524 Statutory refund delay under the Jharkhand Value Added Tax Act may attract compensatory interest where excess tax remains unpaid beyond the prescribed period without justification. The Jharkhand High Court noted that delayed processing of a refund application, or withholding the amount after filing, cannot be excused by non-allocation of funds. It also accepted that the interest period may run from the date of the demand notice, adjusted for the time taken by the assessee to file the refund application after receipt of that notice. The decision therefore treats interest as recompense for deprivation of money during the period of wrongful retention. Case-Laws VAT / Sales Tax Thu, 03 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768524