Interest and Penalties in VAT: C-Forms Absence Must Not Undermine Concessional Tax Benefits, Legislative Intent Stressed.

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....Levy of interest and penalty - Absence of C-Forms - It is not in dispute that concessional levy of tax which is provided by the legislature is to the benefit of the assessee, if such benefit is denied on technicalities, the purpose and object of extending the concessional rate of tax would be defeated.....