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TMI Blog1990 (11) TMI 353X X X X Extracts X X X X X X X X Extracts X X X X ..... on April 7, 1979, is tax as defined in the Act and whether any penalty under section 16(1)(b) of the Act as it stood between May 4, 1964 and May 2, 1969 can be imposed for any delay in payment of such amount?" The Board took the view that the payment of tax under section 7(2A) is by way of advance payment and they are not in the nature of tax and as such no penalty can be imposed in respect of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erein, to pay tax at intervals shorter than those prescribed under sub-section (1). In such cases, the proportionate tax on the basis of the last return shall be deposited at the intervals specified in the said notification in advance of the return. The difference, if any, of the tax payable according to the return and the advance tax paid shall be deposited with the return and the return shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e prescribed time to the assessing authority. So the dealers are required to comply with the notice served on them in accordance with sub-section (1). Sub-section (2A) further provides that the tax is required to be deposited at the intervals specified in the notification in advance of the return and the return shall be accompanied by the treasury receipt or receipts of any bank authorised to rece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er would incur the liability of penalty under section 16(1)(b). My answer to the question, therefore, is that the amount payable under sub-section (2A) of section 7 is tax and if the tax is not paid or deposited within shorter intervals as required under the notification issued by the Government, then such a dealer incurs the liability of penalty under section 16(1)(b). The revision petition of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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