Question 7 - If notice is issued under Section 74 and thereafter the noticee makes payment, is there any need to adjudicate the case?

Section 74 compliance: timely payment of tax, interest and prescribed penalty concludes the proceedings under the provision.

Where a notice under Section 74 is issued, if the noticee pays the tax due with interest and a penalty equal to 25% of such tax within thirty days of the notice, then under Section 74(8) all proceedings in respect of that notice shall be deemed to be concluded.