Can there be two assessments for the same period?
Today we are carrying an interesting SC judgement. The assessments of an assessee were provisional on a dispute relating to inclusion of certain post manufacturing expenses and the department found that the assessee had wilfully misdeclared assessable value and various additional amounts were collected over and above the value shown in the invoices. So, another show cause notice was issued for inclusion of these amounts which was adjudicated and duty demand was confirmed and penalty imposed. After several rounds of litigation, the matter finally reached the Supreme Court. The SC held that there can not be two assessments for the same period and with the finalization of provisional assessments by the Assistant Commissioner, no separate demand could be made for the same period. The duty demanded and penalty imposed were set aside.