Monday, December 28, 2020

Penalty order set aside, when interest on delayed payment already paid

GST/EXCISE/ST/VAT : Penalty under section 58 of Uttarakhand VAT Act could not be imposed on assessee for delay in deposit of tax due to COVID-19 as there was no financial loss to revenue since interest on delayed payment had been made

from www.taxmann.com Latest Case Laws https://ift.tt/34QthW2

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...