Definition of tax due includes penalties and interest, expanding recoverable amounts under the Income-tax Act. An amendment inserts an Explanation into the Income-tax Act defining "tax due" to include penalty, interest or any other sum payable under the Act, ... Summary
Definition of tax due includes penalties and interest, expanding recoverable amounts under the Income-tax Act.
An amendment inserts an Explanation into the Income-tax Act defining "tax due" to include penalty, interest or any other sum payable under the Act, thereby expanding the statutory conception of recoverable amounts to include ancillary liabilities arising under the tax law.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.