Judgment

B.P. JEEVAN REDDY :- This appeal is preferred against the judgment of a learned single Judge of the Allahabad High Court allowing the Sales Tax Revision filed by the assessee. The matter arises under the U. P. Sales Tax Act. Section 8(1) of the U. P. Sales Tax Act reads as follows :

"8(1). Payment and Recovery of Tax.- (1) The tax admittedly payable shall be deposited within the time prescribed or by the thirty first day of August, 1975, whichever is later, failing which simple interest at the rate of two per cent (per Mensem) shall become due and be payable on the unpaid amount with effect from the day immediately following the last date prescribed or with effect from the first day of June, 1975, whichever is later and nothing contained in Section 7 shall prevent or have the effect of postponing the liability to pay such interest.

Explanation.- For the purposes of this sub-section, the tax admittedly payable means the tax which is payable under this Act on the turnover of sales or, as the case may be, the turnover or purchases, or of both, as disclosed in the accounts maintained by the dealer or admit by him in any return or proceeding under this Act whichever is greater, or