CORPORATION BANK vs M/S SARASWATI ABHARANSALA

The Supreme Court addressed the issue of sales tax refund under SRO 1075/99, which reduced the sales tax rate from 1% to 0.5% with retrospective effect from April 1, 1999. The Court held that the original notification SRO 1728/93, which stated that any tax collected at a higher rate shall not be refunded, was valid and enforceable. Consequently, the Court dismissed the writ petition filed by the first respondent seeking a refund of excess sales tax, affirming the Assistant Commissioner's decision.