https://www.taxtmi.com/caselaws?id=154818 Sales-return deductions are to be claimed in the assessment year in which the original sale occurred; goods returned in a later year cannot be excluded from that later year's taxable turnover. The stated approach follows an earlier Supreme Court ruling on the same issue. Penalty for delayed returns may be sustained where the default extends beyond late filing to failure to deposit tax within time and consequent loss to the revenue. On the accepted facts, negligent delayed filing and untimely tax payment supported the penalty and prevented interference with it. en-us Fri, 08 Nov 1985 00:00:00 +0530 Tue, 27 Aug 2013 15:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=154818 Sales-return deductions are to be claimed in the assessment year in which the original sale occurred; goods returned in a later year cannot be excluded from that later year's taxable turnover. The stated approach follows an earlier Supreme Court ruling on the same issue. Penalty for delayed returns may be sustained where the default extends beyond late filing to failure to deposit tax within time and consequent loss to the revenue. On the accepted facts, negligent delayed filing and untimely tax payment supported the penalty and prevented interference with it. Case-Laws VAT and Sales Tax Fri, 08 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=154818