https://www.taxtmi.com/caselaws?id=11014 An assessee who opts for composition tax under the Karnataka Agricultural Income-tax Act must pay the prescribed amount by the statutory due date under the relevant scheme. If the balance is remitted only later, the default arises automatically under the statute and does not depend on a prior assessment order or demand notice. On that basis, section 42 applies to the delayed differential amount, and interest or penalty may be levied as a compensatory consequence of late remittance of tax already due. en-us Mon, 16 Feb 2004 00:00:00 +0530 Wed, 29 Jul 2009 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11014 An assessee who opts for composition tax under the Karnataka Agricultural Income-tax Act must pay the prescribed amount by the statutory due date under the relevant scheme. If the balance is remitted only later, the default arises automatically under the statute and does not depend on a prior assessment order or demand notice. On that basis, section 42 applies to the delayed differential amount, and interest or penalty may be levied as a compensatory consequence of late remittance of tax already due. Case-Laws Income Tax Mon, 16 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11014