https://www.taxtmi.com/caselaws?id=308651 Interest under Section 7(2) of the Karnataka Tax on Entry of Goods Act, 1979 is not attracted merely because tax is found short-paid in the final assessment; the provision operates on a prior statutory determination of tax payable under the advance payment scheme. Where no provisional assessment was made and liability was quantified only in the regular assessment, the short payment could not by itself justify interest, and the statute pointed instead to penalty provisions. The Tribunal's deletion of interest was upheld in favour of the assessee, and the revision petition failed. en-us Sat, 25 Sep 2021 00:00:00 +0530 Tue, 11 Jul 2023 21:16:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308651 Interest under Section 7(2) of the Karnataka Tax on Entry of Goods Act, 1979 is not attracted merely because tax is found short-paid in the final assessment; the provision operates on a prior statutory determination of tax payable under the advance payment scheme. Where no provisional assessment was made and liability was quantified only in the regular assessment, the short payment could not by itself justify interest, and the statute pointed instead to penalty provisions. The Tribunal's deletion of interest was upheld in favour of the assessee, and the revision petition failed. Case-Laws VAT and Sales Tax Sat, 25 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308651