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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Notice of demand in Form 3 required before recovering securities transaction tax liabilities under Chapter VII orders</h1> Where any securities transaction tax, interest, or penalty becomes payable under Chapter VII of the governing Act, the Assessing Officer is mandated to issue a formal notice of demand to the assessee. This notice must be in the prescribed Form No. 3 and must clearly specify the exact sum payable. The provision establishes a procedural requirement ensuring that any liability arising from an order under Chapter VII is formally communicated before recovery, thereby providing clarity and official intimation of the tax obligation.
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