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TMI Blog2015 (12) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... o the Central Government. The Superintendent of Taxes in his assessment order found that the petitioner-company is liable to pay tax only on the difference between the re-sale price and the purchase price and the surcharge component collected on the sale price thus rejected the contention that the petitioner's liability is only to pay tax for the difference of price collected from its dealers. The matter ultimately culminated into SLP (Civil) No. 6619/2001. The Supreme Court found that the collection of surcharge towards the oil pool account is based on administrative count and not a statutory provision. Therefore, to treat the same as a component of sale price was held to be justified. However, with regard to the liability to pay tax, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 22 as it stood earlier to the amendment are extracted hereunder for convenient reference: "22. Interest payable by dealer.-(1) Where a dealer fails to pay the full amount of tax payable by him in accordance with the statements furnished by him under sub-section (2) of section 16 or the return furnished by him under sub-section (3) of section 16 as may be applicable to him on or before the date or dates on which such payments were due to be paid under sub-section (1) of that section, he shall pay simple interest at the rate of two percentum for each month on the amount of the tax remaining so unpaid from the first day of the month next following the date on or before which such tax was payable up to the end of the month immedia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mount of the tax referred to in sub-section (2) from the first day of the month immediately following the due date for payment of tax for the period for which the assessment is made up to the end of the month immediately preceding the month in which the assessment is made." Sub-section (1) of section 22 deals with the situation where the assessee does not pay the tax as per the returns or if there is any deficit payment of tax, interest on deficit amount becomes payable. Sub-section (2) deals with the situation where after assessment if it is found that demand notice is issued and if there is any deficit payment which falls short of the amount claimed in the notice, the interest becomes payable. Sub-section (3) deals with the situation whe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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