https://www.taxtmi.com/caselaws?id=443565 Penal interest could not be levied on licence fee deposited after the excise vend licence had not been renewed and the business remained closed. Under the applicable rules, the licence stood determined on expiry of the financial year if not renewed, so no subsisting licence existed and no licence fee was legally payable for those years. Because the amount was deposited pursuant to court order during the dispute, it was not a delayed discharge of an admitted liability. Penal interest under Section 24-A could arise only on non-payment of licence fee within the prescribed time, which was not established on the facts. The demand was therefore unsustainable and quashed. en-us Fri, 22 Sep 2023 00:00:00 +0530 Tue, 26 Sep 2023 21:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443565 Penal interest could not be levied on licence fee deposited after the excise vend licence had not been renewed and the business remained closed. Under the applicable rules, the licence stood determined on expiry of the financial year if not renewed, so no subsisting licence existed and no licence fee was legally payable for those years. Because the amount was deposited pursuant to court order during the dispute, it was not a delayed discharge of an admitted liability. Penal interest under Section 24-A could arise only on non-payment of licence fee within the prescribed time, which was not established on the facts. The demand was therefore unsustainable and quashed. Case-Laws VAT and Sales Tax Fri, 22 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443565