https://www.taxtmi.com/caselaws?id=330949 An assessment for additional sales tax was held unsustainable where the assessing authority failed to consider bifurcation of turnover between two distinct periods in the same financial year carrying different exemption limits. The Commissioner's circular issued under section 28-A was treated as binding and could not be ignored by the assessing authority. The court also followed the later Division Bench view that a financial year may be split for working out tax liability when different rates or exemptions apply during different parts of the year. The assessment order was set aside and the matter remanded for fresh consideration in accordance with the binding circular and the applicable legal position. en-us Wed, 22 Jun 2016 00:00:00 +0530 Tue, 09 Aug 2016 13:06:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330949 An assessment for additional sales tax was held unsustainable where the assessing authority failed to consider bifurcation of turnover between two distinct periods in the same financial year carrying different exemption limits. The Commissioner's circular issued under section 28-A was treated as binding and could not be ignored by the assessing authority. The court also followed the later Division Bench view that a financial year may be split for working out tax liability when different rates or exemptions apply during different parts of the year. The assessment order was set aside and the matter remanded for fresh consideration in accordance with the binding circular and the applicable legal position. Case-Laws VAT and Sales Tax Wed, 22 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330949