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2017 (3) TMI 486 - HC - VAT and Sales TaxLiability of interest - Section 8 (1) of the Act - there was a bonafide dispute with regard to liability to pay tax, and the assessment order was passed after nearly 3 ½ years - Held that: - there was no dispute relating to classification of goods or the rate of tax payable. The turnover and the rate of tax were clearly mentioned in the books of account and therefore, the present case was fully covered by the explanation to Section 8(1) of the Act - The intent of Section 8(1) read with explanation is clear, that once the assessee is found to have admitted its turnover, in the books of account, and rate of tax is not in issue, the total tax payable becomes the admitted tax. Any set off claimed by the assessee, if is disallowed and is accepted by the assessee, would not form a valid basis for assessee to contend that the amount of tax payable was not admitted - the Tribunal was justified in holding that the assessee is liable to pay interest under Section 8(1) of the Act, upon the shortfall in payment of tax - revision fails - decided against applicant.
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