1986 (2) TMI 322 - HC - VAT and Sales Tax

Summary

The Bombay High Court considered a reference under section 61(1) of the Bombay Sales Tax Act, 1959 regarding the levy of penalty for delayed tax payment. The Court held that the penalty should be levied at the old rates, not the new rates, for tax due prior to a certain date. The decision was based on the Supreme Court ruling in Maya Rani Punj v. Commissioner of Income-tax, Delhi. The reference was answered in the negative.