https://www.taxtmi.com/caselaws?id=161654 Penalty for delayed filing and tax deposit was held unwarranted where the assessee tendered payment by cheque within time and the cheque was later honoured. Rule 48 treated cheque payment as valid, and the date of payment related back to the date of presentation of the cheque, so the Tribunal erred in treating encashment as the payment date. The court also held that the delay, even on the corrected basis, was only marginal and amounted to a trivial default. Because section 15-A(1)(a) is discretionary and requires absence of reasonable cause, the penalty could not be imposed mechanically for such a minor lapse. en-us Tue, 17 Feb 2004 00:00:00 +0530 Mon, 03 Feb 2014 16:01:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161654 Penalty for delayed filing and tax deposit was held unwarranted where the assessee tendered payment by cheque within time and the cheque was later honoured. Rule 48 treated cheque payment as valid, and the date of payment related back to the date of presentation of the cheque, so the Tribunal erred in treating encashment as the payment date. The court also held that the delay, even on the corrected basis, was only marginal and amounted to a trivial default. Because section 15-A(1)(a) is discretionary and requires absence of reasonable cause, the penalty could not be imposed mechanically for such a minor lapse. Case-Laws VAT and Sales Tax Tue, 17 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161654