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2011 (1) TMI 1281 - HC - VAT and Sales TaxWhether the highest tax payable to be reckoned from out of the preceding years is the assessed tax or the tax due under the return filed by the assessee? Held that:- If the tax declared as payable in the return is equal or more than the tax found payable under the accounts, then such amount of tax as disclosed in the return has to be reckoned for the purpose of assessment of tax at compounded rate for the relevant year. So long as the provision in the statute does not provide for assessment of tax at compounded rate based on the tax assessed or demanded for any of the preceding three years, the Department cannot raise such a contention before the statutory authorities or before the Tribunal or before this court. We therefore uphold the order of the Tribunal and dismiss this revision case.
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