9911796707
TMI Blog2022 (9) TMI 1003X X X X Extracts X X X X X X X X Extracts X X X X ..... irect and Indirect Tax statutes - seeking extension of time to remit the amount - HELD THAT:- The Schemes for settlement of legacy arrears had been notified both under Direct and Indirect Tax statutes. However, there had been a variation between the final dates for receipt of payments under the two Schemes. While the Scheme in the context of Income Tax, permitted remittance till 30.09.2020, the Scheme under the Indirect Tax Laws permitted settlement only till 30.06.2020. The Court was persuaded to observe that the time limit should be on par for both Schemes. If this were so, it would enable an assessee who expresses readiness to make the payment prior to 30.09.2020, to avail the benefit of the Scheme under Indirect Taxes as well - the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was (Legacy Dispute Resolution) Scheme, 2019. An application in Form SVLDRS-1 was made on 17.12.2019 and on 28.02.2020, SVLDRS-3 determining the amount payable at a sum of Rs.29,61,717/- came to be issued by the respondent. 3.The petitioner appears to have faced some difficulty in meeting the deadline under the Scheme, particularly, the deadline requiring full payment of the amount to be made on or before 30.06.2020. However, gathering its resources, it was in a position to remit the amount a month later on 30.07.2020 and has written to the officer expressing readiness to settle the amount and seeking clarity on whether the amount would be so accepted, if filed at that juncture. 4. Inter alia , the petitioner refers to a query in this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tatutes. However, there had been a variation between the final dates for receipt of payments under the two Schemes. While the Scheme in the context of Income Tax, permitted remittance till 30.09.2020, the Scheme under the Indirect Tax Laws permitted settlement only till 30.06.2020. 8.The Court was persuaded to observe at Para 5, extracted below, that the time limit should be on par for both Schemes. If this were so, it would enable an assessee who expresses readiness to make the payment prior to 30.09.2020, to avail the benefit of the Scheme under Indirect Taxes as well. '5.Thus, in terms of the above Act, the time limit prescribed under Chapter-V of the Finance Act for completion of certain actions as stipulated under Chapter-V, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest @ 15% from 01.07.2020 till the date of remittance, which was fixed at three weeks from the date of order, i.e., on or before 17.09.2021. 10.Mr.A.P.Srinivas, appearing for the respondents, submits that the aforesaid order has attained finality. Though the Department had contemplated a challenge to the same, no appeal had materialised on account of low tax effect, he says. The Circular providing for pecuniary limit on filing of appeals, sets out certain exclusions, where, despite the monetary threshold, the Revenue could still pursue matters in some situations, including if the matters involved large scale revenue ramifications or dealt with issues of a recurring nature. The decision of the Revenue not to challenge order dated 26. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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