Retrospective limitation amendment upheld for VAT assessments completed within the extended six-year period.

Retrospective amendment of Section 29(4) of the Punjab Value Added Tax Act, 2005 extended the assessment period to six years and governed the disputed assessments. The earlier pre-amendment position allowed assessment within three years, extendable to six years by written order, but the 15.11.2013 amendment was held to apply retrospectively. On that basis, assessments framed within six years from the last date for filing returns were within time, and the argument that the amendment applied only to pending matters was rejected. Earlier decisions that did not consider the amendment's effect were treated as inapplicable.

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Issues: Whether assessments for the relevant assessment years were barred by limitation in view of Section 29(4) of the Punjab Value Added Tax Act, 2005 as amended by Punjab Act No. 38 of 2013.

Analysis: The pre-amendment provision permitted assessment within three years, extendable to six years by a written order of the Commissioner. The amendment of 15.11.2013 substituted the limitation period of six years and was held to operate retrospectively. The Court applied that legal position and held that the assessments in the present matters were framed within six years from the last date for filing of returns. The contention that the amendment applied only to pending matters was rejected. The reliance placed on earlier decisions where the effect of the amendment was not considered was held to be misplaced.

Conclusion: The assessments were not barred by limitation and the limitation challenge failed, in favour of the Revenue.

Final Conclusion: The amended limitation regime governed the assessments, and no substantial question of law arose for interference.

Ratio Decidendi: A retrospective statutory amendment extending the assessment period applies to assessments completed within the enlarged period, even if the original limitation had otherwise expired.

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