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R. D. DHANUKA, S. G. MEHARE
Sanjeevkumar – Appellant
Versus
Union Of India – Respondent
JUDGMENT
R. D. Dhanuka, J. - Rule. Rule is made returnable forthwith. Mr. Gaikwad, learned a.S.G. for respondent no.1 waives notice. Mr. Sharma, learned standing counsel for respondent nos.2 to 10 waives notice.
2. By this petition filed under article 226 of the Constitution of India, the petitioners seek order and directions against respondent no.3 to release the remaining cash amount of Rs.24,29,000/-as shown in the order dated 17.11.2020 passed by respondent no.3. The petitioners also seek order and direction to pay the interest at the rate of 6% p.a. from 03.03.2018 to 23.12.2019 with compensatory interest at the rate of 12% p.a. from 24.12.2019 till 01.12.2020 on the amount of cash released of Rs.14,36,000/- by order dated 17.11.2020 passed by respondent no.3.
3. The petitioners seek an order and direction against respondents to pay interest at the rate of 12% p.a. from 01.11.2017 to 01.12.2020 on cash amount of Rs.9,35,000/- and interest at the rate of 12% p.a. from 01.11.2017 till its final realization of the amount of Rs.24,29,000/-.
4. On 31.10.2017 a search was conducted at the residence of petitioner nos.1 to 4 under Section 132 of the Income Tax act, 1961 (hereinafter refer
The interest would be payable in terms of the provisions of the statute and any delay in paying the compensation or the amounts due would attract award of interest at a reasonable rate on equitable g....
The main legal point established in the judgment is the interpretation of the word 'shall' in the second proviso to Section 132B(1)(i) of the Income Tax Act, 1961, and the determination of its mandat....
Appellants are entitled to 12% interest on delayed rebate claims per Section 11BB of the Central Excise Act, 1944 due to inordinate delay.
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