Commissioner Of Commercial Taxes & Ors vs Supreme Oil Industries Ltd. & Anr

The Supreme Court upheld the decision of the Calcutta High Court regarding the financial assistance scheme enacted in 1994 for Rice Bran Oil manufacturing units in West Bengal, specifically addressing the eligibility of Supreme Oil Industries Limited for a refund of Rs. 73,00,000. The Court clarified that only units established prior to 1994 manufacturing Rice Bran Oil of Raw Grade-I are entitled to benefits under the scheme, and no other units can claim refunds as they did not assert their rights in court. The Court mandated the state to refund the amount within six months, failing which interest at 9% per annum would accrue.