Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + HC VAT and Sales Tax - 2019 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (11) TMI 946 - HC - VAT and Sales TaxActual entitlement of interest - Rate of interest - HELD THAT:- The Petitioner's claim for interest at the rate of 12% per annum certainly cannot be accepted - So also, the Petitioner cannot insist for interest at the rate of 8% per annum, which is otherwise statutory prescribed rate of interest in terms of the said Act. Upon cumulative consideration of all the aforesaid circumstances, we feel that the interest at the rate of 4% per annum, will be appropriate in the facts and circumstances of the present case. The Respondents is directed to pay to the Petitioner the interest amount of ₹ 54,62,665/-, as was payable to the Petitioner as on 14th December 2017 together with interest thereon at the rate of 4% per annum to be computed from 14th December, 2017 till the date of actual payment - petition disposed off.
|