Deemed withdrawal of best judgment assessment bars recovery once returns are later filed with tax and interest paid.

Deemed withdrawal of best judgment assessment bars recovery once returns are later filed with tax and interest paid. https://www.taxtmi.com/highlights?id=100034 HC held that assessment orders passed under Section 62 for non-filing of returns stood deemed withdrawn once the taxpayers later filed the returns for the relevant periods along with tax, interest and late fee. The statutory consequence under Section 62(2) barred further recovery on the basis of those assessment orders. Any amount already recovered under the withdrawn orders was directed to be adjusted against the taxpayers' outstanding tax dues. en-us Fri, 22 May 2026 07:06:44 +0530 Fri, 22 May 2026 07:06:46 +0530 TaxTMI RSS Generator Deemed withdrawal of best judgment assessment bars recovery once returns are later filed with tax and interest paid. https://www.taxtmi.com/highlights?id=100034 HC held that assessment orders passed under Section 62 for non-filing of returns stood deemed withdrawn once the taxpayers later filed the returns for the relevant periods along with tax, interest and late fee. The statutory consequence under Section 62(2) barred further recovery on the basis of those assessment orders. Any amount already recovered under the withdrawn orders was directed to be adjusted against the taxpayers' outstanding tax dues. Highlights GST Fri, 22 May 2026 07:06:44 +0530 https://www.taxtmi.com/highlights?id=100034