INDIAN ALUMINIUM CABLES LTD. & ANR. vs EXCISE AND TAXATION OFFICER & ANR.

The Supreme Court held that under Section 11(2) of the Punjab General Sales Tax Act, 1948, the Assessing Authority must issue notices within a reasonable time and cannot assess tax beyond five years from the end of each quarter. The Court clarified that while the notice for the last quarter of 1970-71 was timely, the overall assessment for the earlier quarters was barred due to the lapse of time. The appeals were dismissed, affirming the High Court's decision to quash the assessment proceedings initiated after the statutory period.