Swastik Tubes (P) Ltd. vs Haryana Financial Corporation Ltd. on 18 October, 2005
In case of M/s Sada Shiv Castings Ltd. Vs. Punjab State
Electricity Board through its Chairman and others and M/s Swastik
Tubes Pvt. Ltd. Vs. Haryana Financial Corporation Ltd. (supra) this
Court dealt with refund of taxes received in excess along with interest
whereas in M/s Swastik Tubes Pvt. Ltd. Vs. Haryana Financial
Corporation Ltd. (supra) the loanee was held entitled to refund of the
excess amount of sale consideration retained by Corporation. In the
present case, the loan was by way of two separate agreements, which
stipulated the terms of the loan and thus, the judgments can have no
application to the facts of the present case.