COMMISSIONER OF COMMERCIAL TAXES vs SUPREME OIL INDUSTRIES LTD.

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 facing financial difficulties. The Court clarified that the scheme was intended for units manufacturing Rice Bran Oil of Raw Grade-I, and thus, only Supreme Oil Industries Limited was entitled to a refund of Rs. 73,00,000, with interest payable if not refunded within six months. The Court also stated that other units could not claim refunds as they had not asserted their rights in court over the years.