2006 (11) TMI 590

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....est on the refund, granted under the provisions of the Punjab General Sales Tax Act, 1948 (for short, "the Act"). Prayer has also been made for a direction to give interest on the bank guarantee illegally encashed in violation of judgment of this court in Jindal Jewellers v. State of Punjab [2004] 138 STC 93. Case of the petitioner is that on August 22, 2003, its goods were intercepted at the info....

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....plied for refund on August 5, 2005, which was granted only on March 22, 2006 without interest. This court in judgment dated July 12, 2005 in C.W.P. No. 17062 of 2004, Jai Bharat Trading Co. v. State of Punjab [2006] 147 STC 19 held that if refund is beyond 90 days, interest is liable to be paid. In Jindal Jewellers' case [2004] 138 STC 93 (P&H), this court held that 75 per cent of bank guarant....