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Company Must Refund Excess Subsidy with 12% Interest Due to Doctrine of Contemporanea Expositio in VAT Context.

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....Doctrine of Contemporanea Expositio - Availment of Capital Investment Subsidy -when the Appellant company had obtained undue advantage in monetary terms by availing 25% extra subsidy; and had given undertaking to refund any excessive benefit with interest at the rate of 12% per annum, in our view, the Appellant company remains liable to refund the excess amount together with interest at the rate agreed upon, i.e., 12% per annum.....

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Company Must Refund Excess Subsidy with 12% Interest Due to Doctrine of Contemporanea Expositio in VAT Context.