https://www.taxtmi.com/caselaws?id=795547 Interest under Section 50 is described as compensatory and not chargeable on tax amounts credited to the Electronic Cash Ledger on or before the return due date, even where the return is filed later and the ledger is debited only upon filing. Such deposits remain available solely to discharge tax liability and are treated as advance tax. The proviso to Rule 88B is stated to accord with this position. The notes further state that rejecting a refund of excess interest without applying a binding ruling specifically placed before the authority was arbitrary and showed non-application of mind; refund of the excess interest, with statutory interest, was directed. en-us Thu, 16 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795547 Interest under Section 50 is described as compensatory and not chargeable on tax amounts credited to the Electronic Cash Ledger on or before the return due date, even where the return is filed later and the ledger is debited only upon filing. Such deposits remain available solely to discharge tax liability and are treated as advance tax. The proviso to Rule 88B is stated to accord with this position. The notes further state that rejecting a refund of excess interest without applying a binding ruling specifically placed before the authority was arbitrary and showed non-application of mind; refund of the excess interest, with statutory interest, was directed. Case-Laws GST Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795547