https://www.taxtmi.com/caselaws?id=161581 Security deposited under an earlier sales tax regime and accepted as adjustable security may be set off against the assessee's liability under the Assam General Sales Tax Act, 1993, where the record shows the deposit remained with the department for adjustment. The Court found no basis to treat the amount as an ordinary security deposit incapable of adjustment, and held that interest could not be levied on a tax liability already covered by the available security. The assessment and revisional orders were set aside to the extent they disallowed adjustment and imposed interest, and the assessment was directed to be reframed accordingly. en-us Mon, 18 Aug 2003 00:00:00 +0530 Sat, 01 Feb 2014 14:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161581 Security deposited under an earlier sales tax regime and accepted as adjustable security may be set off against the assessee's liability under the Assam General Sales Tax Act, 1993, where the record shows the deposit remained with the department for adjustment. The Court found no basis to treat the amount as an ordinary security deposit incapable of adjustment, and held that interest could not be levied on a tax liability already covered by the available security. The assessment and revisional orders were set aside to the extent they disallowed adjustment and imposed interest, and the assessment was directed to be reframed accordingly. Case-Laws VAT and Sales Tax Mon, 18 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161581