M/S. AMBICA STEELS LTD. vs STATE OF U.P. .

The Supreme Court directed the Assessing Officer to complete re-assessment proceedings under Section 6A of the Central Sales Tax Act, 1956, within three months after the appellant files Form 'F' within ten weeks. The Court granted a one-time waiver of penalty and interest, contingent upon the timely submission of Form 'F', acknowledging existing differences in interpretation among Sales Tax Collectors. The appellant's deposit of Rs. 7,76,755 under protest is to be refunded within two weeks post re-assessment, subject to adjustments.