Gopal Krishan Vyas, J. - (1.) IN this writ petition, the petitioner has prayed for quashing impugned order Annex. -10 dated 15.05.2008 besides seeking the declaration that while calculating the interest subsidy, input tax credit availed by a unit cannot be reduced from the ''tax payable ''.
(2.) THE petitioner company is pursuing the business of manufacture of flexible packaging material having its factory at village Mogra in Jodhpur district. With a view to provide the investors attractive opportunity to invest in the State of Rajasthan, the State Government has promulgated scheme under the Rajasthan Investment Promotion Policy 2003, published in the Official Gazette on 28.07.2003 (in short, hereinafter referred to as ''the Scheme of 2003 ''). As per Clause 7 of the said Scheme, 2 expansion are made entitled to various subsidies. As per Clause 9 of the Scheme of 2003, the entitlement to subsidy is to be decided by the State Level Screening Committee or the District Level Screening Committee, as the case may be. The Industries Department is the nodal coordinating, monitoring and implementing department and any matter pertaining to interpretation of any clause of the Scheme of 2003 is required to be referred to the Finance Department of the State of Rajasthan. In the writ petition it is asserted that the petitioner company invested a huge amount of Rs. 860 lacs while implementing extensive expansion programme and, therefore, the petitioner company is entitled to the benefit of interest subsidy under the Scheme of 2003. The District Level Screening Committee accordingly in its meeting dated 28.03.2007 declared the petitioner company eligible under the category of expansion as per the Scheme of 2003. For the said purpose, entitlement certificate Annex. -2 dated 09.04.2007 was issued in favour of the petitioner company.
(3.) THE petitioner company filed an application on 13.04.2007 before the Commercial Taxes Officer requesting to disburse the ''interest subsidy ''. After detailed scrutiny, respondent No. 3 passed order dated 04.08.2007 whereby disbursement of interest subsidy in the sum of Rs. 15,85,345/ -was approved. While approving the aforesaid interest subsidy respondent No. 3 categorically observed that the petitioner company has;