https://www.taxtmi.com/caselaws?id=164847 Section 9(2B) of the Central Sales Tax Act was validated retrospectively by section 120 of the Finance Act, 2000, so the amended interest provisions were treated as operating from the inception of the parent Act. The governing principle applied was that interest on delayed tax payment is compensatory, and where tax remains unpaid after it becomes due, the revenue loss during the default period supports levy of interest under the validating amendment. On that basis, interest was held leviable for the earlier period, and the questions were answered in favour of the State. en-us Thu, 05 Aug 2010 00:00:00 +0530 Mon, 05 May 2014 11:08:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164847 Section 9(2B) of the Central Sales Tax Act was validated retrospectively by section 120 of the Finance Act, 2000, so the amended interest provisions were treated as operating from the inception of the parent Act. The governing principle applied was that interest on delayed tax payment is compensatory, and where tax remains unpaid after it becomes due, the revenue loss during the default period supports levy of interest under the validating amendment. On that basis, interest was held leviable for the earlier period, and the questions were answered in favour of the State. Case-Laws VAT and Sales Tax Thu, 05 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164847