https://www.taxtmi.com/caselaws?id=165899 Acceptance of an assessee's application under the compounding scheme for the turnover slab up to Rs. 200 crores limited the tax liability to the compounding amount prescribed for that slab. Any sum deposited beyond the amount legally payable under the scheme was not compounding money but excess tax. Such excess was refundable under section 29 of the Act, with interest under section 29(2). The authority therefore could not retain the entire deposit once the lower slab was accepted and had to refund the excess amount to the assessee with interest. en-us Tue, 18 Jan 2011 00:00:00 +0530 Wed, 17 Sep 2014 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165899 Acceptance of an assessee's application under the compounding scheme for the turnover slab up to Rs. 200 crores limited the tax liability to the compounding amount prescribed for that slab. Any sum deposited beyond the amount legally payable under the scheme was not compounding money but excess tax. Such excess was refundable under section 29 of the Act, with interest under section 29(2). The authority therefore could not retain the entire deposit once the lower slab was accepted and had to refund the excess amount to the assessee with interest. Case-Laws VAT and Sales Tax Tue, 18 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165899