Interest Imposed on Petitioner for Late Tax Payment Despite Available Funds, Per Filed Return Principles.

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....Recovery of interest payable on delayed payment of tax - Since tax was paid by the petitioner belatedly, petitioner is liable to interest during the period default. There was no excuse for not paying the tax in time from its electronic cash register. Nothing precluded the petitioner from discharging the tax liability from its electronic credit - If there is a belated payment of tax declared in the returns filed, interest has to follow. - HC....