https://www.taxtmi.com/caselaws?id=158834 A factual finding that the assessee lacked sufficient funds on the date the cheque was dishonoured meant the penalty dispute did not raise a referable question of law. The later transfer of funds could not cure the default already committed, and concurrent findings rejecting the bank certificate and holding non-payment on presentation were based on appreciation of evidence. A fresh plea that interest was not chargeable, not raised before the Tribunal, could not be converted into a legal question at the reference stage. The result is that no referable question of law arose from the penalty order, and the interest contention was not entertainable. en-us Wed, 29 May 1996 00:00:00 +0530 Thu, 07 Nov 2013 18:22:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158834 A factual finding that the assessee lacked sufficient funds on the date the cheque was dishonoured meant the penalty dispute did not raise a referable question of law. The later transfer of funds could not cure the default already committed, and concurrent findings rejecting the bank certificate and holding non-payment on presentation were based on appreciation of evidence. A fresh plea that interest was not chargeable, not raised before the Tribunal, could not be converted into a legal question at the reference stage. The result is that no referable question of law arose from the penalty order, and the interest contention was not entertainable. Case-Laws VAT and Sales Tax Wed, 29 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158834