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TMI Blog2016 (11) TMI 1261X X X X Extracts X X X X X X X X Extracts X X X X ..... Jainendra Kumar Ranka, J. For the Petitioner : Tanvi Sahai For the Respondent : None present ORDER 1. All these petitions involve common facts and issue, therefore, are being decided by this common order for the sake of convenience. The assessment year involved in all these petitions, is 2004-05. 2. The brief facts noticed are that all the three assessees opted for composition and their claim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... well as the Dy. Com. (Appeals). Learned counsel contends that the law cannot be applied retrospectively and it has to be applied prospectively and the Tax Board erred in taking into consideration the relevant Notifications, which were in the nature of clarification rather than holding it prospectively. She thus contended that questions of law arise out of the order of Tax Board and needs considera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exceeding ten percent of his gross annual turnover. (2) No tax under sub-section (1) shall be payable on that part of turnover which relates to:- (i) sale or purchase of exempted goods; (ii) sale or purchase of goods in the course of inter-State trade or commerce; (iii)sale or purchase of goods in the course of export out of the territory of India or sale or purchase in the course of impor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning to assessment, collection and refund under other provisions of this Act and Rules made thereunder shall mutatis mutandis apply." 7. In my view, a bare perusal of the section itself makes it explicitly clear when it mentions "whose total turnover in a year exceeds 3 lac rupees" should mean that it has to be computed on the basis of annual turnover and not on the basis of proportionate or part ..... X X X X Extracts X X X X X X X X Extracts X X X X
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