https://www.taxtmi.com/caselaws?id=10887 Belated payment of the composition amount under the Karnataka Agricultural Income-tax Act, 1957 attracts section 42 because the composition scheme under section 66, read with rule 32(2) and Form No. 23, requires payment by the stipulated date. Default arises by operation of the statute when the admitted amount is not paid on time, and a separate assessment order or demand notice is not necessary for section 42 to apply. The levy is treated as a compensatory statutory charge for delay in remitting a quantified tax liability, and it was upheld as valid and enforceable. en-us Mon, 16 Feb 2004 00:00:00 +0530 Mon, 27 Jul 2009 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10887 Belated payment of the composition amount under the Karnataka Agricultural Income-tax Act, 1957 attracts section 42 because the composition scheme under section 66, read with rule 32(2) and Form No. 23, requires payment by the stipulated date. Default arises by operation of the statute when the admitted amount is not paid on time, and a separate assessment order or demand notice is not necessary for section 42 to apply. The levy is treated as a compensatory statutory charge for delay in remitting a quantified tax liability, and it was upheld as valid and enforceable. Case-Laws Income Tax Mon, 16 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10887