https://www.taxtmi.com/caselaws?id=418754 The court dismissed the writ petition challenging the attachment of the petitioner's bank account following a re-assessment order under the TNVAT Act for AY 2009-2010. The petitioner's failure to accurately report taxable turnover resulted in a delayed tax payment, leading to interest demand as per statutory provisions. Despite paying the differential tax within the specified period, the court ruled that interest under Section 42(3) of the TNVAT Act applied from the original tax payment due date. The petitioner's plea to absolve them from interest payment on the delayed tax amount was rejected, emphasizing that timely tax payment is crucial, and subsequent payment post-reassessment does not exempt from interest liability. en-us Wed, 16 Feb 2022 00:00:00 +0530 Thu, 08 Sep 2022 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418754 The court dismissed the writ petition challenging the attachment of the petitioner's bank account following a re-assessment order under the TNVAT Act for AY 2009-2010. The petitioner's failure to accurately report taxable turnover resulted in a delayed tax payment, leading to interest demand as per statutory provisions. Despite paying the differential tax within the specified period, the court ruled that interest under Section 42(3) of the TNVAT Act applied from the original tax payment due date. The petitioner's plea to absolve them from interest payment on the delayed tax amount was rejected, emphasizing that timely tax payment is crucial, and subsequent payment post-reassessment does not exempt from interest liability. Case-Laws VAT and Sales Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418754