In the present case the first instalment of repayment by the assessee became due on 29.4.2004, the second instalment became due on 28.4.2005 and the third instalment became due on 28.4.2006.
The Deferment Certificate was given by the Sales Tax Department based on the Eligibility Certificate only on 21.12.2001.
This claim has been granted by the impugned judgment.
Under that Certificate the quantum of benefit of tax deferment was Rs.62,47,500/ .
After the grant of Eligibility Certificate on 21.12.2001 the assessee availed the deferment of tax for the period from 1.10.2001 to 29.4.2004 amounting to Rs.33,48,600, as against its total entitlement of Rs.62,47,500/ .
Hence this civil appeal by the Department.
The assessee had companymenced its companymercial production on April 30, 1997.
42,62,807/ with effect from 21.12.2001 till payment.
That Certificate was however granted only on 13.9.2001 for 84 months 7 years companymencing from April 30, 1997.
The assessee had applied to the Industries Department for grant of Eligibility Certificate.
The assessee had filed a writ petition in 2004 for refund.
The case of the assessee is that during the period 30.4.1997 to 30.9.2001 it had deposited paid an amount of Rs.42,62,807/ .
The quantum of the benefit is number in dispute.
The said certificate stated that the assessee was entitled to the benefit of tax deferment subject to the maximum of Rs.62,47,500/ .
Consequently, assessee seeks refund of the tax amount paid by him during the period 30.4.1997 to 29.9.2001.
Under the Deferment Scheme read with Punjab General Sales Tax Deferment and Exemption Rules, 1991, on expiry of 7 years 84 months i.e. on 29.4.2004, the assessee who was allowed to retain the tax companylected by it on behalf of the Department had to repay it in 3 instalments.
on Rs.
Similarly, the period companymencing from 30.4.1997 to 29.4.2004 is also number in dispute.
42,62,807/ from 21.12.2001 till refund adjustment.
KAPADIA, J. On 20.12.2001 Deferment Certificate was granted by the Sales Tax Department to the respondent assessee for the period April 30, 1997 to 29th April 2004.
