9911796707
TMI Blog2024 (5) TMI 323X X X X Extracts X X X X X X X X Extracts X X X X ..... In the instant case, refund has been sanctioned without any interest. It is an admitted position that annual rate notified by the Government for the purposes of Section 42 of the Act is simple interest @ 6% per annum. The petition is disposed off. - HON BLE MR. JUSTICE SANJEEV SACHDEVA AND HON'BLE MR. JUSTICE RAVINDER DUDEJA Advocates who appeared in this case: For the Petitioner: Mr. Pulkit Verma, Mr. R. R. Maurya Mr. Jitendra Kumar, Advocates. For the Respondents: Mr. Rajeev Aggarwal, ASC with Ms Shaguftha Hameed Ms. Samridhi Vats, Advocates. JUDGMENT SANJEEV SACHDEVA, J. (ORAL) 1. Petitioner seeks computation/quantification of interest on the delayed refund in terms of Section 42 of Delhi Value Added Tax Act, 2017 w.e.f. 01.06.2015 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r section 58 of this Act advising him that an audit, investigation or inquiry into his business affairs will be undertaken or sought additional information under section 59 of this Act the amount shall be carried forward to the next tax period as a tax credit in that period (5) The Commissioner may, as a condition of the payment of a refund, demand security from the person pursuant to the powers conferred in section 25 of this Act within fifteen days from the date on which the return was furnished or claim for the refund was made. (6) The Commissioner shall grant refund within fifteen days from the date the dealer furnishes the security to his satisfaction under sub-section (5). (7) For calculating the period prescribed in clause (a) of sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d not to include an amount of tax payable under this Act the amount may be refunded to the seller or may be applied by the seller under clause (b) of sub-section (3) of this section without the seller being required to refund an amount to the purchaser. (11) Notwithstanding anything contained to the contrary in sub-section (3) of this section, no refund shall be allowed to a dealer who has not filed any return due under this Act. 4. In terms of Section 38 (3) (a) (ii) of the Act, the Commissioner shall refund to a person the amount of tax, penalty and interest, if paid in excess within two months after the date on which the return was furnished or claim for the refund was made. In the instant case, the petitioner had made an application for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mount due under this Act, he shall, in addition to the amount assessed, be liable to pay simple interest on such amount at the annual rate notified by the Government from time to time, computed on a daily basis, from the date of such default for so long as he continues to make default in the payment of the said amount. (3) Where the amount of tax including any penalty due is wholly reduced, the amount of interest, if any, paid shall be refunded, or if such amount is varied, the interest due shall be calculated accordingly. (4) Where the collection of any amount is stayed by the order of the Appellate Tribunal or any court or any other authority and the order is subsequently vacated, interest shall be payable for any period during which such ..... X X X X Extracts X X X X X X X X Extracts X X X X
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