https://www.taxtmi.com/caselaws?id=170917 Penal interest under the KGST Act was held inapplicable where the return was correctly filed under the law prevailing on the filing date and the tax liability arose only after a subsequent change in law and later assessment. The Revenue could not treat a return that was neither false nor incomplete when filed as a basis for penal interest under section 23(3A), and section 23(3B) did not apply because there was no stay of demand relating to the assessment. The levy was therefore unsustainable when the liability emerged only from the later legal position. en-us Fri, 13 Feb 2009 00:00:00 +0530 Tue, 30 Jun 2015 12:11:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170917 Penal interest under the KGST Act was held inapplicable where the return was correctly filed under the law prevailing on the filing date and the tax liability arose only after a subsequent change in law and later assessment. The Revenue could not treat a return that was neither false nor incomplete when filed as a basis for penal interest under section 23(3A), and section 23(3B) did not apply because there was no stay of demand relating to the assessment. The levy was therefore unsustainable when the liability emerged only from the later legal position. Case-Laws Income Tax Fri, 13 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170917