https://www.taxtmi.com/caselaws?id=162971 Interest on additional tax arising from reassessment under the Punjab General Sales Tax Act, 1948 accrues only when the reassessed liability is quantified and demanded, not from the date of the original return. The earlier view permitting interest from the return date was treated as no longer applicable after the later Constitution Bench ruling. Because a reassessment creates a fresh liability payable only on demand, the obligation to pay interest begins from the date the demand crystallises. The interest demand based on the earlier return date was therefore unsustainable and the position was settled in favour of the assessee. en-us Tue, 11 Jul 2006 00:00:00 +0530 Wed, 19 Mar 2014 16:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162971 Interest on additional tax arising from reassessment under the Punjab General Sales Tax Act, 1948 accrues only when the reassessed liability is quantified and demanded, not from the date of the original return. The earlier view permitting interest from the return date was treated as no longer applicable after the later Constitution Bench ruling. Because a reassessment creates a fresh liability payable only on demand, the obligation to pay interest begins from the date the demand crystallises. The interest demand based on the earlier return date was therefore unsustainable and the position was settled in favour of the assessee. Case-Laws VAT and Sales Tax Tue, 11 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162971