M/S. Ambica Steels Ltd vs State Of U.P. & Ors

The Supreme Court directed the appellant, M/s Quantum Engg. & Fabricators Pvt. Ltd., to submit to re-assessment proceedings under the Central Sales Tax Act, 1956, specifically referencing Section 6A. The Court held that the Assessing Officer shall not impose penalty or interest during these proceedings as a one-time waiver, contingent upon the timely submission of Form 'F' by the assessee. The appellant's deposited amount under protest is to be refunded after the completion of re-assessment, subject to adjustments in the assessed duty.