Penalty reduced from Rs.56 lakh to Rs. 10 thousand in case of delay in payment of tax collected by the Supplier
The Hon’ble Allahabad High Court in the case of Clear Secured Services Private Limited held that maximum penalty of Rs.10,000/- could be imposed by the Revenue Department, when no amount of tax has been evaded by the Assessee and there is only delay in depositing the amount of tax collected by the Supplier.