https://www.taxtmi.com/caselaws?id=366564 Amounts deposited during the pendency of KVAT appeals were treated as colourless deposits awaiting final disposal, not as payments first appropriable towards interest under the ordinary rule. The court read the Karasamadhana Scheme-2017 as a self-contained settlement mechanism intended to grant waiver of a substantial part of penalty and interest on payment of arrears. To preserve that object, the appeal-stage deposits had to be adjusted first towards tax, and only then against penalty and interest arrears. On that construction, rejection of the assessees' applications was unsustainable, and the scheme benefit remained available on the basis of tax-first adjustment. en-us Fri, 31 Aug 2018 00:00:00 +0530 Tue, 12 Feb 2019 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366564 Amounts deposited during the pendency of KVAT appeals were treated as colourless deposits awaiting final disposal, not as payments first appropriable towards interest under the ordinary rule. The court read the Karasamadhana Scheme-2017 as a self-contained settlement mechanism intended to grant waiver of a substantial part of penalty and interest on payment of arrears. To preserve that object, the appeal-stage deposits had to be adjusted first towards tax, and only then against penalty and interest arrears. On that construction, rejection of the assessees' applications was unsustainable, and the scheme benefit remained available on the basis of tax-first adjustment. Case-Laws VAT and Sales Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366564