- (1.) The petitioner has approached this Court with a prayer for quashing notice dated 23.12.2011 (P-1) regarding assessment under Sections 29, 32, 46 and 56 of the Punjab Value Added Tax Act, 2005 (for brevity 'the Act') read with Section 9(2) of the Central Sales Tax Act, 1956 (for brevity 'the 1956 Act'). According to notice, the petitioner has calculated and paid tax on the manufacturing of photo albums @ 4% whereas the Assessing Officer has expressed his opinion that it ought to have been assessed @ 12.50%.
(2.) The petitioner has filed the reply on 07.01.2012 as well as on 11.01.2012 taking the plea that a circular dated 23.08.2005 clarifies that taxability on photo albums would be covered by Entry 86 of Schedule B of the Act and therefore, the calculation and payment of tax @ 4% is in order. The Assessing Officer has not yet passed any order on the view point expressed by the petitioner and the matter is fixed for today before him.
(3.) Notice of motion.;