https://www.taxtmi.com/caselaws?id=760374 The SC held that royalty for advertising hoardings cannot be equated with tax/levy imposition. The Corporation's demand for enhanced royalty from Re.1 to Rs.10 per square foot was valid as parties had agreed to pay royalty in 2005 through acquiescence. However, the Corporation's reliance on Section 431 of the Act was misplaced since royalty is not tax. The enhanced rate of Rs.10 per square foot was upheld from the date of public communication, with 6% simple interest. Payment directed within 16 weeks, failing which 10% interest would apply and amounts recoverable as public demands. en-us Wed, 16 Oct 2024 00:00:00 +0530 Sun, 20 Oct 2024 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760374 The SC held that royalty for advertising hoardings cannot be equated with tax/levy imposition. The Corporation's demand for enhanced royalty from Re.1 to Rs.10 per square foot was valid as parties had agreed to pay royalty in 2005 through acquiescence. However, the Corporation's reliance on Section 431 of the Act was misplaced since royalty is not tax. The enhanced rate of Rs.10 per square foot was upheld from the date of public communication, with 6% simple interest. Payment directed within 16 weeks, failing which 10% interest would apply and amounts recoverable as public demands. Case-Laws Indian Laws Wed, 16 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760374