In a significant ruling clarifying the scope of penal provisions under fiscal statutes, the Supreme Court of India, comprising a Bench of Justice J.B. Pardiwala and Justice Ujjal Bhuyan, held that a mere delay in depositing tax cannot be equated with non-payment or “failure to pay” tax to attract harsh statutory penalties. Setting aside the
Mere Delay in Depositing Tax Cannot Be Equated with Non-Payment to Attract Penalty: Supreme Court
