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2014 (4) TMI 953 - ALLAHABAD HIGH COURTRefund of amount in excess of tax due - whether the assessee should make any demand for interest as a pre-condition for interest on admitted refund – Held that:- Judgment in M/s Bal Govind Bhola Nath Construction Corporation vs. Trade Tax Officer, Sector 1, Allahabad and others [2004 (10) TMI 568 - ALLAHABAD HIGH COURT] followed - Revenue has to itself refund the entire amount, which was sought to be adjusted against the demand for future years and therefore, there was no justification as to why they should not be asked to pay interest also – Section 40(4) is applicable to the extent of the amount for which a request for adjustment has been made and has been adjusted from the future liabilities - The amount, which was found refundable and has been refunded, would attract interest for which the Act does not provide any application or any further demand to be made - In view of the Circular issued by the CCT, UP dated 22.5.2004, the interest is payable on the amount, which is found refundable and which in the present case has actually been refunded by the Revenue – Writ petition disposed of with directions to Revenue to calculate and pay the interest payable to the petitioner on the amount refunded to him - Decided in favour of assessee.
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