Interest

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silvi ubal gomes (Querist)
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02 June 2010 A Ltd has been issued a notice by the sales tax dept for arrears of sales tax liability from the year 2004-05. Interest has been charged u/s 36(3)(a)and 36(3)(b)and 36(4A. Interest liability is twice the amount of tax liabilty. Is this possible???? Can a relief be claimed under any section??????

CA. O.P. Agarwalla

CA. O.P. Agarwalla (Expert)
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07 June 2010 The first point is that there is no sucgh bar that interest can not be of an amount in excess of the tax.

But in your caes, I have some doubts. You may mail me the details alongwith the text of section 36 of the Act at following ID

opg_fca@sify.com

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