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TMI Blog2019 (2) TMI 133X X X X Extracts X X X X X X X X Extracts X X X X ..... IGH COURT - HC X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of those situated in any other place or, (b) at one hundred and fifteen percent of the highest turnover tax payable by it as conceded in the return or accounts or the turnover tax paid for any of the previous consecutive three years, whichever is higher". 2. The question raised is as to whether the assessee has an option to seek for computation either under clause (a) or (b) and if t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uor sold in the year at 140% and then taking 115% of the highest turnover payable for any preceding three years. The higher of these had to be applied as the compounded tax in the year for a particular assessee. The assessee claimed that since the amendment was introduced in the midst of the financial year, the same cannot be applied from the commencement. 3. The issue is no longer res integra, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the option. If the petitioner had also exercised fresh option at that point, then definitely the benefit would have gone to the petitioner-assessee. To grant such an option at this distance of time, we find, is not practicable. The request for exercising a fresh option is rejected, with the above observation.
Ordered accordingly. Parties are left to suffer their respective costs. X X X X Extracts X X X X X X X X Extracts X X X X
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