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2016 (5) TMI 735 - SC - VAT and Sales TaxDemand of interest - Period of limitation - Assessment of sales tax for the year 2001-2002 - Assessment not made till the last date i.e. 30th April,2005 - Held that:- amendment was made by the State Legislature vide Punjab General Sales Tax (Amendment and Validation) Act, 2005 whereby Section 11-CC was added after Section 11-C. This amendment was retrospective in nature and covered the period in question. As per the aforesaid amendment, the period of limitation got extended from three years to five years. In the instant case, assessment order was made on 10.07.2006 which was within the limitation as was provided by amended Section 11-CC Therefore, in view of the statutory provision, the judgment of the High Court holding that the assessment was validly made within the period of limitation is clearly unsustainable. Since the assessment is saved by the subsequent amendment and that too by making it retrospective, the assessee shall pay only principal amount of sales tax and no interest or penalty shall be paid. Decided in favour of revenue
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