Sale of Goods Act, 1930
61. Interest by way of damages and special damages
(1) Nothing in this Act shall affect the right of the seller or
the buyer to recover interest or special damages in any case whereby law
interest or special damages may be recoverable, or to recover the money paid
where the consideration for the payment of it has failed.
(2) In the absence of a contract to the contrary, the court may
award interest at such rate as it thinks fit on the amount of the price-
(a) to the seller in a suit by him for the
amount of the price-from the date of the tender of the goods or from the date
on which the price was payable;
(b) to the buyer in a suit by him for the
refund of the price in a case of a breach of the contract on the part of the
seller-from the date on which the payment was made.