https://www.taxtmi.com/highlights?id=57587 Levy of Interest - The respondent is not justified in levying interest from the original assessment year - In the case on hand, Rathna Residency is not the petitioner before this Court. It is only Rainbow Restaurant that is the petitioner before this Court. Rainbow Restaurant is contending that it cannot be considered as “a restaurant attached to a star hotel”. Thus the petitioner was under a bonefide impression that they are not liable to pay tax at a higher rate. Therefore, as per Section 42 of the Act, only from the date on which the petitioner's liability is quantified, the question of paying tax would arise. - HC en-us Wed, 14 Apr 2021 10:36:12 +0530 Wed, 14 Apr 2021 10:36:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57587 Levy of Interest - The respondent is not justified in levying interest from the original assessment year - In the case on hand, Rathna Residency is not the petitioner before this Court. It is only Rainbow Restaurant that is the petitioner before this Court. Rainbow Restaurant is contending that it cannot be considered as “a restaurant attached to a star hotel”. Thus the petitioner was under a bonefide impression that they are not liable to pay tax at a higher rate. Therefore, as per Section 42 of the Act, only from the date on which the petitioner's liability is quantified, the question of paying tax would arise. - HC Highlights VAT and Sales Tax Wed, 14 Apr 2021 10:36:12 +0530 https://www.taxtmi.com/highlights?id=57587