https://www.taxtmi.com/caselaws?id=303940 Section 7(b) of the Kerala General Sales Tax Act was read to require comparison of the highest turnover tax conceded in the return, shown in the accounts, and actually paid for the previous three consecutive years, with the highest figure forming the basis for compounded tax at 115%. Applying the golden rule and noscitur a sociis, the Court held that "payable" and "paid" operate in distinct but coordinated contexts, so all specified figures must be compared in context rather than treated as interchangeable. The Tribunal's interpretation was upheld, and the reference was answered accordingly. en-us Wed, 06 Apr 2022 00:00:00 +0530 Fri, 26 Aug 2022 08:35:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303940 Section 7(b) of the Kerala General Sales Tax Act was read to require comparison of the highest turnover tax conceded in the return, shown in the accounts, and actually paid for the previous three consecutive years, with the highest figure forming the basis for compounded tax at 115%. Applying the golden rule and noscitur a sociis, the Court held that "payable" and "paid" operate in distinct but coordinated contexts, so all specified figures must be compared in context rather than treated as interchangeable. The Tribunal's interpretation was upheld, and the reference was answered accordingly. Case-Laws VAT and Sales Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303940