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The sum payable

The sum payable, the expression 'the sum payable' would obviously mean the difference between the amount refunded and the reduced amount which was liable to be refunded. The second reason is that even if it

Compensation

3 SCC 714. (Motor Vehicles Act, 1988, s. 163A and Sch. II) The award of interest on the refunded amount is as per the statutory provisions of law as it them stood and on the peculiar facts

Refundment

The act of refunding also that which is refunded

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Repay

To pay back to refund as to repay money borrowed or advanced

Surcharge

right; exceeding one's powers or privileges; a declaration by an auditor that a person is personally liable to refund a particular part of public money illegally expended by him [see, e.g. the Public Health Act, 1875, s.

Prize chit

gift is under a liability to make any further payment in respect or such scheme or arrangement; (ii) refunding to the subscribers or such of them as have not won any prize or gift, the whole or

Found to be due

is outstanding, i.e., that there is subsisting obligation on the Income-tax Officer to pay. If a claim to refund is barred by a final order, it cannot be said that there is a subsisting obligation to make

Corporation Tax

the total income of individuals receiving such dividends, or in computing the Indian income tax payable by, or refundable to, such individuals. [Constitution of India, Art. 336(6)]

Contribution

of the debt to a transfer of the securities held by the creditor. Legatees are sometimes compelled to refund and contribute for the payment of debts. In like manner, contribution lies between partners for any excess, which

Assessee

taken for the determination of wealth-tax payable by him or by any other person or the amount of refund due to him or such other person. (ii) very person who is deemed to be an assessee under

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