https://www.taxtmi.com/caselaws?id=298048 A Supreme Court reversal on surcharge and entry tax set-off required the assessing authority to recompute sales tax, because the earlier favourable interpretation no longer survived and the declaration of law bound authorities under Article 141. The recomputation was treated as valid and not barred by limitation, as no specific limitation period governed the reassessment action and the orders followed the Supreme Court judgment within a reasonable interval. Interest on the differential tax was confined to the period after 28 October 2016, because the legal position was clarified only from that date and could not attract interest for the earlier unsettled period. en-us Wed, 31 Mar 2021 00:00:00 +0530 Wed, 09 Nov 2022 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298048 A Supreme Court reversal on surcharge and entry tax set-off required the assessing authority to recompute sales tax, because the earlier favourable interpretation no longer survived and the declaration of law bound authorities under Article 141. The recomputation was treated as valid and not barred by limitation, as no specific limitation period governed the reassessment action and the orders followed the Supreme Court judgment within a reasonable interval. Interest on the differential tax was confined to the period after 28 October 2016, because the legal position was clarified only from that date and could not attract interest for the earlier unsettled period. Case-Laws VAT and Sales Tax Wed, 31 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298048