https://www.taxtmi.com/caselaws?id=47997 Interest on refunded tax under a deferment scheme was denied because such interest can arise only from an express statutory provision or agreement. The SC distinguished a refund claim under regular assessment from repayment of deferred tax retained temporarily under a sales tax deferment arrangement, and held that equity cannot supply interest where the scheme and governing rules are silent. The refund remained payable, but only without interest, and the direction awarding interest was set aside. en-us Mon, 30 Apr 2007 00:00:00 +0530 Fri, 06 Jun 2014 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47997 Interest on refunded tax under a deferment scheme was denied because such interest can arise only from an express statutory provision or agreement. The SC distinguished a refund claim under regular assessment from repayment of deferred tax retained temporarily under a sales tax deferment arrangement, and held that equity cannot supply interest where the scheme and governing rules are silent. The refund remained payable, but only without interest, and the direction awarding interest was set aside. Case-Laws VAT and Sales Tax Mon, 30 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47997