https://www.taxtmi.com/caselaws?id=158931 Eligibility for deferment under the 1987 Sales Tax Deferment Scheme turned on minimum investment of Rs. 10 lakhs in fixed assets. The land component claimed by the petitioner was treated as a valuation based on RIICO rates, not actual investment, because the land had been taken on lease before the relevant period; on that basis, the investment fell below the prescribed threshold. Non-supply of the survey report did not cause prejudice because the petitioner had already been asked to explain the valuation discrepancy and the rejection rested on admitted figures and lease records. No further opportunity to opt for the 1989 Scheme was required, as the option period had expired. en-us Fri, 14 Jun 1996 00:00:00 +0530 Mon, 11 Nov 2013 14:29:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158931 Eligibility for deferment under the 1987 Sales Tax Deferment Scheme turned on minimum investment of Rs. 10 lakhs in fixed assets. The land component claimed by the petitioner was treated as a valuation based on RIICO rates, not actual investment, because the land had been taken on lease before the relevant period; on that basis, the investment fell below the prescribed threshold. Non-supply of the survey report did not cause prejudice because the petitioner had already been asked to explain the valuation discrepancy and the rejection rested on admitted figures and lease records. No further opportunity to opt for the 1989 Scheme was required, as the option period had expired. Case-Laws VAT and Sales Tax Fri, 14 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158931