https://www.taxtmi.com/caselaws?id=162438 Compounding fee collected under section 47 cannot be finally sustained without completing assessment and determining the actual tax liability. Where the dealer is registered and assessment remains pending, the assessing officer must issue notice under section 17(3), determine turnover and tax, and then verify the tax sought to be evaded against the amount already collected at inspection. If the evasion figure is below the maximum fee collected, the excess is refundable; if it equals or exceeds that ceiling, no adjustment is required. The character of the transactions as works contract transactions was left for the assessing officer to decide on the basis of the materials and admissions. en-us Mon, 07 Oct 2002 00:00:00 +0530 Wed, 26 Feb 2014 16:17:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162438 Compounding fee collected under section 47 cannot be finally sustained without completing assessment and determining the actual tax liability. Where the dealer is registered and assessment remains pending, the assessing officer must issue notice under section 17(3), determine turnover and tax, and then verify the tax sought to be evaded against the amount already collected at inspection. If the evasion figure is below the maximum fee collected, the excess is refundable; if it equals or exceeds that ceiling, no adjustment is required. The character of the transactions as works contract transactions was left for the assessing officer to decide on the basis of the materials and admissions. Case-Laws VAT and Sales Tax Mon, 07 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162438