Tax Dispute Resolution: Partial Payment Accepted, Remaining Balance to Be Settled with 9% Interest Under SVLDRS Scheme

Tax Dispute Resolution: Partial Payment Accepted, Remaining Balance to Be Settled with 9% Interest Under SVLDRS Scheme https://www.taxtmi.com/highlights?id=88429 HC held that the petitioner breached SVLDRS Scheme provisions by failing to deposit the full declared amount within 30 days of FORM SVLDRS-03 issuance. Despite partial payment of Rs. 10 Lakh, the court permitted the petitioner to pay the remaining Rs. 29,56,239/- with 9% interest per annum from 30.06.2020. The respondent authority is authorized to recover the dues from the petitioner's attached bank account. The petition was disposed of, effectively allowing the petitioner to settle the outstanding tax liability under the voluntary disclosure scheme. en-us Fri, 16 May 2025 08:40:38 +0530 Fri, 16 May 2025 08:40:41 +0530 TaxTMI RSS Generator Tax Dispute Resolution: Partial Payment Accepted, Remaining Balance to Be Settled with 9% Interest Under SVLDRS Scheme https://www.taxtmi.com/highlights?id=88429 HC held that the petitioner breached SVLDRS Scheme provisions by failing to deposit the full declared amount within 30 days of FORM SVLDRS-03 issuance. Despite partial payment of Rs. 10 Lakh, the court permitted the petitioner to pay the remaining Rs. 29,56,239/- with 9% interest per annum from 30.06.2020. The respondent authority is authorized to recover the dues from the petitioner's attached bank account. The petition was disposed of, effectively allowing the petitioner to settle the outstanding tax liability under the voluntary disclosure scheme. Highlights Service Tax Fri, 16 May 2025 08:40:38 +0530 https://www.taxtmi.com/highlights?id=88429