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2013 (11) TMI 260 - ALLAHABAD HIGH COURTPenalty u/s 15A(1)(a) of the Trade Tax Act - Held that:- It has to be kept in mind that payment of interest on the delayed amount of tax flows from statutory provision i.e. Section 8(1) of the Trade Tax Act while penalty proceedings are taken for delayed payment of tax under Section 15A (1) (a) of the Trade Tax Act. Both interest and penalty are two different concepts. Interest flows from the retention of the money, which was legally payable, while penalty is inflicted for violation of statutory provisions and the time scheduled prescribed - it is no concern of the department as to whether the purchaser had made payment of price of the goods purchased to the revisionist-assessee dealer or not and it is also immaterial as to whether the purchaser is a Government Company or a private buyer - amount of penalty is reduced to 15% subject to the conditions that the assessee deposits the reduced penalty in terms of the order of this Court within one month - Decided partly in favour of assessee.
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