https://www.taxtmi.com/caselaws?id=397839 Penalty for delayed payment of admitted VAT was held unjustified where the tax was ultimately paid with interest and no financial loss to the revenue was shown. The Court upheld the Tribunal's view that, on these facts, levy of penalty under the VAT Act for belated deposit was not warranted, and the penalty could not be sustained against the assessee. The substantial questions of law were answered against the revenue, and the revisions failed. en-us Wed, 12 Aug 2020 00:00:00 +0530 Mon, 31 Aug 2020 13:49:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397839 Penalty for delayed payment of admitted VAT was held unjustified where the tax was ultimately paid with interest and no financial loss to the revenue was shown. The Court upheld the Tribunal's view that, on these facts, levy of penalty under the VAT Act for belated deposit was not warranted, and the penalty could not be sustained against the assessee. The substantial questions of law were answered against the revenue, and the revisions failed. Case-Laws VAT and Sales Tax Wed, 12 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397839