Limitation for audit assessment under Section 42(6) and post-expiry extension are referred for authoritative constitutional resolution.

Interpretation of the limitation period for audit assessment under Section 42(6) and the Commissioner's power to extend time under its proviso turned on whether the principle in Shreyans Industries, that expiry of the statutory period extinguishes the Revenue's right and vests a valuable right in the assessee, applies to the Orissa VAT Act. The Court noted arguments that Section 42(6) differs on structure, outer limit and reasoned extension, but found those distinctions insufficient to conclusively displace Shreyans. Because the issue raises important precedent and interpretative questions, it was referred to a three-Judge Bench for authoritative determination.

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