https://www.taxtmi.com/caselaws?id=463753 Interest was payable on a security amount deposited in penalty proceedings and later refunded, because the department retained the money during the intervening period. Section 29 of the U.P. Trade Tax Act governed both the entitlement to interest and the applicable rate, so the assessee was entitled to interest for the period of wrongful retention from 8 October 1976 to 16 May 1997 at the statutory rate. en-us Wed, 13 Jan 2010 00:00:00 +0530 Mon, 15 Sep 2025 17:48:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463753 Interest was payable on a security amount deposited in penalty proceedings and later refunded, because the department retained the money during the intervening period. Section 29 of the U.P. Trade Tax Act governed both the entitlement to interest and the applicable rate, so the assessee was entitled to interest for the period of wrongful retention from 8 October 1976 to 16 May 1997 at the statutory rate. Case-Laws VAT / Sales Tax Wed, 13 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463753