https://www.taxtmi.com/caselaws?id=128586 A concessional compounded-tax option under section 7 of the Madras General Sales Tax Act had to be exercised in the manner and at the stage prescribed by the Act and Rules, including timely application, permission, and advance payment. The scheme required returns and provisional tax fixation at the start of the year, showing that the option was not meant to be deferred until final assessment. A dealer who failed to invoke the option at the proper stage could not claim the benefit later, and the ordinary mode of assessment under section 3 continued to apply. en-us Mon, 29 Apr 1963 00:00:00 +0530 Mon, 08 Apr 2013 17:10:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128586 A concessional compounded-tax option under section 7 of the Madras General Sales Tax Act had to be exercised in the manner and at the stage prescribed by the Act and Rules, including timely application, permission, and advance payment. The scheme required returns and provisional tax fixation at the start of the year, showing that the option was not meant to be deferred until final assessment. A dealer who failed to invoke the option at the proper stage could not claim the benefit later, and the ordinary mode of assessment under section 3 continued to apply. Case-Laws VAT and Sales Tax Mon, 29 Apr 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128586