Penalty rectification permitted where estate duty is reduced on appeal, subject to proportional adjustment and statutory time limits. Where estate duty is reduced on appeal, a penalty originally imposed as a proportionate percentage of duty may be reduced correspondingly; in other cases rectification may reduce the penalty only to the maximum permissible amount calculated on the reduced duty and not below that amount, and any rectification must be made within the statutory time limit.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty rectification permitted where estate duty is reduced on appeal, subject to proportional adjustment and statutory time limits.
Where estate duty is reduced on appeal, a penalty originally imposed as a proportionate percentage of duty may be reduced correspondingly; in other cases rectification may reduce the penalty only to the maximum permissible amount calculated on the reduced duty and not below that amount, and any rectification must be made within the statutory time limit.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
