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K. R. SHRIRAM, JITENDRA JAIN
Ramkaran Karwa – Appellant
Versus
Union of India, through the Secretary, New Delhi – Respondent
JUDGMENT :
JITENDRA JAIN, J.
1. Rule. By consent of the parties heard finally since the pleadings were completed.
2. Writ Petition (Stamp) No. 26523 of 2024 not on board, but by consent of the parties is taken up for hearing alongwith the present writ petition since the issue involved is common. However, in the present order, facts relating to Writ Petition No. 12299 of 2024 are narrated for sake of convenience.
3. By this petition under Article 226 of the Constitution of India, Petitioner is seeking for quashing of Order-in-Original (O-I-O) dated 5th July 2024 whereby Respondents have granted interest @ 6% per annum on the amount refunded to Petitioner by rejecting the claim of Petitioner to grant interest @ 18% per annum.
Brief undisputed and admitted facts are as under:
4. On 29th August 2011, an investigation was initiated by Respondent No. 4 against one Perfect Containers Pvt. Ltd. In the course of the investigation, Petitioner’s residence premises were searched and a sum of Rs.2,06,33,000/- was seized on the allegation that same constitutes unaccounted receipts arising out of sales made by Perfect Containers Pvt. Ltd. In the course of said investigation Rs.15,94,000/- was also seiz
Trustees cannot retain interest earned on funds held in trust; they must account for all earnings to the beneficiary.
The court established that interest on delayed refunds of pre-deposits can be claimed at 12% per annum based on judicial precedents, despite the absence of a specific statutory provision at the time.
Interest on delayed refunds under Section 11BB of the Central Excise Act is payable only after three months from the date of receipt of the refund application, not from the date of deposit.
There is always peril in treating the words of a speech or judgment as though they are words in a legislative enactment, and it is to be remembered that judicial utterances made in the setting of the....
Appellants are entitled to 12% interest on delayed rebate claims per Section 11BB of the Central Excise Act, 1944 due to inordinate delay.
The main legal point established in the judgment is that the petitioner was entitled to interest on the amount paid under Section 220(2) of the Act as part of the refund under Section 240 of the Act.....
Entitlement to interest on refunded amount under the Finance Act, 2016 based on legal precedents and interpretations.
Interest is payable on a tax refund when the tax was collected unlawfully, dating from payment until refund, emphasizing equity and restitution principles.
Carts, Vessels or other conveyances - Legal Maxim "Nemo Debet Locupletari ex AlienaJactura" means no one should be enriched by another's loss. Without any statutory backing, respondents have no autho....
Interest on refunded amount – When a person is deprived of use of his money to which he is legitimately entitled, he has right to be compensated for deprivation which may be called interest or compen....
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