https://www.taxtmi.com/caselaws?id=247024 Interest under Section 8(1) of the U.P. Trade Tax Act could not be levied on delayed payment of admitted tax where the underlying demand itself was unsustainable. The assessment had excluded stock transfers and consignment sales from base production, but the Full Bench interpretation required those items to be included while computing base production. Once that correct computation was applied, the foundation for the demand for the relevant year disappeared, and the consequential claim for delayed payment interest also failed. The interest demand was therefore rightly set aside in favour of the assessee. en-us Mon, 29 Jul 2013 00:00:00 +0530 Tue, 25 Mar 2014 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247024 Interest under Section 8(1) of the U.P. Trade Tax Act could not be levied on delayed payment of admitted tax where the underlying demand itself was unsustainable. The assessment had excluded stock transfers and consignment sales from base production, but the Full Bench interpretation required those items to be included while computing base production. Once that correct computation was applied, the foundation for the demand for the relevant year disappeared, and the consequential claim for delayed payment interest also failed. The interest demand was therefore rightly set aside in favour of the assessee. Case-Laws VAT and Sales Tax Mon, 29 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247024