Extension of wealth-tax to Jammu & Kashmir permits phased recovery with waiver of interest and cancellation of penalties for the judgment gap. The Supreme Court validation of the Wealth-tax Act's extension to Jammu & Kashmir permits completion of assessments and recovery of outstanding demands; the Board directs phased recovery or instalments to avoid hardship, liberal write-off for small or untraceable demands, waiver of interest for the inter-judgment period, cancellation or reduction of penalties for defaults in that period by Commissioners using remission powers, and non-imposition of penalties in pending proceedings for defaults within the specified interval.
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.
Extension of wealth-tax to Jammu & Kashmir permits phased recovery with waiver of interest and cancellation of penalties for the judgment gap.
The Supreme Court validation of the Wealth-tax Act's extension to Jammu & Kashmir permits completion of assessments and recovery of outstanding demands; the Board directs phased recovery or instalments to avoid hardship, liberal write-off for small or untraceable demands, waiver of interest for the inter-judgment period, cancellation or reduction of penalties for defaults in that period by Commissioners using remission powers, and non-imposition of penalties in pending proceedings for defaults within the specified interval.
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