9911796707
TMI Blog2004 (7) TMI 100X X X X Extracts X X X X X X X X Extracts X X X X ..... in the petition to be correct and are disposing it off finally. 3.The petitioner is a Company registered under the Indian Companies Act having its registered office in Greater Noida. The petitioner is engaged in the manufacture and sale of black and white picture tubes for television. 4.It is alleged in paragraph 2 of the petition that the petitioner used to export these picture tubes to Dhaka in Bangladesh. The petitioner used to remove its excisable goods in Form A.R. 4 and has paid central excise duty on it for the period June, 1995 to June, 1997. Thereafter the petitioner claimed rebate of duty on excisable goods exported after payment of duty and the Assistant Commissioner (now Dy. Commissioner) Central Excise granted the said rebat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est. Copies of the correspondence between the petitioner and respondents is annexed as Annexure-5 to the writ petition. 8.It is alleged in paragraph 14 of the petition that the order of the revisional Authority dated 25-10-99 has neither been stayed nor reversed nor set aside and hence the petitioner is entitled for the refund of the amount of Rs. 32,84,357.86 alongwith interest. 9.Since no counter affidavit has been filed we are treating all these allegations to be correct. 10.We regret to note that despite the order dated 25-10-99 the refund as claimed for by the petitioner has not been granted to him. It seems that the Department, whether the Income Tax department or Trade Tax department or Excise department is very quick in collectin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e well known. They are different concepts. Tax is the amount payable as a result of the charging provision. It is a compulsory exaction of money by a public authority for public purposes, the payment of which is enforced by law. Penalty is ordinarily levied on an assessee for some contumacious conduct or for a deliberate violation of the provisions of the particular statute. Interest is compensatory in character and is imposed on an assessee who has withheld payment of any tax as and when it is due and payable. The levy of interest is geared to actual amount of tax withheld and the extent of the delay in paying the tax on the due date. Essentially, it is compensatory and different from penalty which is penal in character." 15.In our opinio ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
