https://www.taxtmi.com/caselaws?id=751948 Interest on delayed payment of a Competition Commission penalty could not be levied unless the prescribed demand notice in Form I was issued and served in accordance with the recovery regulations. The Court treated the notice procedure as mandatory, because the regulations make the demand notice the basis for identifying default and for triggering interest liability. A penalty order by itself did not create automatic liability for interest; the statutory recovery method had to be followed strictly. The impugned direction levying interest was therefore invalid and the demand for interest was set aside. en-us Fri, 26 Apr 2024 00:00:00 +0530 Wed, 01 May 2024 05:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751948 Interest on delayed payment of a Competition Commission penalty could not be levied unless the prescribed demand notice in Form I was issued and served in accordance with the recovery regulations. The Court treated the notice procedure as mandatory, because the regulations make the demand notice the basis for identifying default and for triggering interest liability. A penalty order by itself did not create automatic liability for interest; the statutory recovery method had to be followed strictly. The impugned direction levying interest was therefore invalid and the demand for interest was set aside. Case-Laws Law of Competition Fri, 26 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751948