https://www.taxtmi.com/caselaws?id=249366 Interest under section 36 of the Karnataka Value Added Tax Act, 2003 was held payable where tax that ought to have been declared in the return was omitted and later found on reassessment. The court treated section 36, including failure to declare tax or interest, as operating independently of the penalty regime in section 72(2). The five per cent understatement threshold in section 72(2) was confined to penalty and did not qualify the levy of interest. A revised return filed within the prescribed period did not cure the omission, so the challenge to the interest demand failed. en-us Thu, 18 Jul 2013 00:00:00 +0530 Fri, 11 Jul 2014 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249366 Interest under section 36 of the Karnataka Value Added Tax Act, 2003 was held payable where tax that ought to have been declared in the return was omitted and later found on reassessment. The court treated section 36, including failure to declare tax or interest, as operating independently of the penalty regime in section 72(2). The five per cent understatement threshold in section 72(2) was confined to penalty and did not qualify the levy of interest. A revised return filed within the prescribed period did not cure the omission, so the challenge to the interest demand failed. Case-Laws VAT and Sales Tax Thu, 18 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249366