https://www.taxtmi.com/caselaws?id=158576 Penalty under section 37(5) is discussed in the context of delayed remittance of advance tax where the return was filed and tax was paid before the due date, with tax also paid in excess. The text notes that the explanation for the delay was accepted on merits and that, in those circumstances, the discretionary power to impose penalty was treated as not warranting interference. It also records that the tax revision case was dismissed as barred by limitation, with the challenge to the penalty ultimately not succeeding. en-us Wed, 22 Mar 1995 00:00:00 +0530 Thu, 31 Oct 2013 15:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158576 Penalty under section 37(5) is discussed in the context of delayed remittance of advance tax where the return was filed and tax was paid before the due date, with tax also paid in excess. The text notes that the explanation for the delay was accepted on merits and that, in those circumstances, the discretionary power to impose penalty was treated as not warranting interference. It also records that the tax revision case was dismissed as barred by limitation, with the challenge to the penalty ultimately not succeeding. Case-Laws VAT and Sales Tax Wed, 22 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158576