Commnr. Of Sales Tax, U.P vs M/S. Hind Lamps Ltd

The Supreme Court upheld the Allahabad High Court's ruling that a dealer can adjust amounts refundable under Section 29 of the U.P. Trade Tax Act, 1948 against tax payable for subsequent periods. The Court clarified that the assessing authority must allow such adjustments as per the provisions of the Act, which permits refunds to be adjusted against outstanding dues. The judgment confirmed the High Court's interpretation of the statute, thereby allowing the dealer to make the necessary adjustments and rejecting the Revenue's contention that such adjustments were impermissible.