- (1.) The petitioner approached this court seeking a direction to the respondents to refund an amount of Rs. 19,53,605/-. Learned counsel for the petitioner submitted that assessment of the petitioner for the year 2013-14 was framed by the Assessing Authority vide order dated 3.7.2015 and a refund of Rs. 74,89,218/- was determined. The amount was payable on application filed by the petitioner.
(2.) The petitioner through counsel filed application for refund on 27.7.2015. Part of the amount due to the petitioner, namely Rs. 55,35,613/- was transferred in the bank account of the petitioner on 24.12.2015, whereas, the balance amount has not been refunded till date despite reminders dated 28.12.2015 and 22.2.2016. He further submitted that in terms of provisions of Section 40 of the Punjab Value Added Tax Act, 2005 (for short 'the Act'), the petitioner is also entitled to interest on delayed refund of the amount @ 6% per annum for the period, 60 days after the filing of the refund application till the amount is refunded.
(3.) On instructions from Gurjit Singh, ETO, Amritsar-II and without prejudice to the right of the Department to take any appropriate proceedings, in this regard, learned counsel for the respondents stated that partly the amount has already been refunded as admitted by the petitioner, whereas, the balance amount shall be refunded to the petitioner within one month from today. He further submitted that as the amount has been refunded without much delay, the petitioner is not entitled to any interest. Heard learned counsel for the parties and perused the paperbook. The fact that in the assessment for the year 2013-14 as framed vide order dated 3.7.2015 the petitioner was found entitled to refund of Rs. 74,89,218/- is not in dispute. The petitioner filed application for refund of the amount on 27.7.2015. Further, it is not in dispute that part of the amount refundable to the petitioner on assessment i.e. Rs. 55,35,613/- was refunded to the petitioner by transferring the same in its bank account on 24.12.2015. The balance of Rs. 19,53,605/- was not refunded without there being any reason. As the stand taken by the learned counsel for the respondents is that balance amount shall be refunded within one month from today, while accepting the same, no direction, as such, is required to be issued.;