https://www.taxtmi.com/caselaws?id=273414 The Supreme Court allowed the Writ Petition, quashing the proceedings that levied interest under Section 24(3) of the TNGST Act. The court ruled in favor of the dealer, emphasizing the importance of provisional assessment and the crystallization of tax liability based on return admission. The petitioner's non-admission of the return led to the assessment years later, resulting in the payment of the differential tax amount. The court held that the demand for interest was not valid based on established legal principles, referencing a previous case where a similar issue was addressed. en-us Wed, 10 Aug 2016 00:00:00 +0530 Sun, 24 Jun 2018 21:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273414 The Supreme Court allowed the Writ Petition, quashing the proceedings that levied interest under Section 24(3) of the TNGST Act. The court ruled in favor of the dealer, emphasizing the importance of provisional assessment and the crystallization of tax liability based on return admission. The petitioner's non-admission of the return led to the assessment years later, resulting in the payment of the differential tax amount. The court held that the demand for interest was not valid based on established legal principles, referencing a previous case where a similar issue was addressed. Case-Laws VAT and Sales Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273414