Barin Ghosh, J. - (1.)ON the assessment made on June 23, 2001 certain sum was found refundable to the petitioner. The Act does not prescribe as to when this refund ought to have been effected. When the assessment was made and it was found that something was refundable to the petitioner, it must be presumed that such refund ought to have had been made available to the petitioner within a reasonable time from the date of such assessment. In the normal circumstances, refund orders are issued along with the assessment orders. In the instant case, however, despite such assessment, the refund was not effected, for it was felt that the amounts so refundable are liable to be adjusted with some other dues of the petitioner. Such adjustment was effected but the petitioner succeeded before the appellate authority while he challenged such adjustment. Thereupon the money due on account of refund has been paid to the petitioner, during the pendency of the writ petition. The short question in the instant case is whether any interest is payable on the amount of refund and if so, at what rate. Since the statute does not say within which time the refund is to be effected, there is no contemplation in the statute that the refund will not be effected within a reasonable time and accordingly the Legislature has not prescribed any rate of interest if refund is not made within a reasonable period. In common law, if a person holds the money lawfully belonging to the other, the person entitled to the money as and by way of compensation is entitled to interest. This appears to be the decision of the different High Courts including this High Court. The reasonable time to refund the money in the instant case should be deemed to be August 1, 2001. Having regard to the fact that the rate of interest has gone down substantially, the refund amount shall carry interest at the rate of six per cent per annum from August 1, 2001, until the date of refund. Let the interest amount be paid to the petitioner 'as quickly as possible but not later than one month from the date of service of copy of this order upon the appropriate authority. It is made clear that the refund has been effected on November 23, 2002. This writ petition is disposed of.
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