TMI Blog2020 (11) TMI 844X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount of tax relief under Section 124(1)(c) at ₹ 69,86,549.60/. Thus the balance amount as estimated amount payable has been determined at ₹ 1,04,79,824.40. Thus, neither the circular appears to be in breach of the provisions of Section 124(1)(c) or subsection (2) of Section 124 nor the amount estimated as per SVLDRS3 dated 01.02.2020 suffers from any error. As prayed by learned counsel for the petitioner, put up this case in the additional cause list on 25.11.2020 at 02.00 p.m. - Writ Tax No. 400 of 2020 - - - Dated:- 23-11-2020 - Surya Prakash Kesarwani And Dr. Yogendra Kumar Srivastava JJ. For the Petitioner : Shubham Agrawal,Sanyukta Singh, Shivam Shukla,Syed Fahim Ahmed For the Respondent : A.S.G. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of Section 124 of The Finance (No.2) Act, 2019, inasmuch as it provides for the relief under Section 124(1)(c) of the said Act on the net outstanding amount whereas the amount for the purpose of relief has first to be determined on the basis of the original demand and thereafter the estimated amount/the amount payable has to be adjusted against the deposits made by the petitioner. (ii)The amount determined by the Respondent No.2 in SVLDRS3 is in breach of provisions of Section 124 (2) of the Finance (No.2) Act, 2019. 4. Learned Additional Solicitor General of India and learned counsel for Respondent No.2 have supported the action of the respondents. 5. We have carefully considered the submissions of learned counsels for the parti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng as on the 30th day of June, 2019, and if the amount of duty is- (i) rupees fifty lakhs or less, than, seventy per cent of the tax dues; (b) where the tax dues are relatable to a show cause notice for late fee or penalty only, and the amount of duty in the said notice has been paid or is nil, then, the entire amount of late fee or penalty; (c) where the tax dues are relatable to an amount in arrears and, (i) the amount of duty is, rupees fifty lakhs or less, then, sixty per cent of the tax dues; (ii) the amount of duty is more than rupees fifty lakhs, then, forty per cent of the tax dues; (iii) in a return under the indirect tax enactment, wherein the declarant has indicated an amount of duty as payable but not pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,84,024/. The amount already deposited by the petitioner i.e. ₹ 3,64,81,370 + ₹ 2,18,84,061/, were appropriated by the order in original itself. Thus as per aforesaid order in original dated 29.03.2019 the amount of tax in arrear was ₹ 1,74,66,374/. This amount was recoverable as arrears of duty under the indirect tax enactment. Thus, the aforesaid amount of ₹ 1,74,66,374/is the amount in arrears under Section 121(c) of the Act. 8. The words amount payable has been defined in Section 121 (e) of the Act. It means the amount calculated by the authority as the amount of tax dues less the tax relief. Thus, the amount of tax dues being the amount in arrears in terms of provisions of Section 124(1) (c) read with S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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