https://www.taxtmi.com/caselaws?id=153399 Turnover earlier treated as exempt can still be reassessed as escaped turnover under section 16 if the assessing authority omitted it from tax by taking an erroneous view of exemption. The provision covers turnover left out of assessment for any reason, including items previously considered and exempted, and the reassessment was therefore upheld. Limitation under section 16 is satisfied when proceedings are initiated within five years from the expiry of the relevant assessment year; completion after that period does not bar the reassessment if the matter remained pending in time. The Madras HC therefore sustained the reassessments and rejected the limitation challenge. en-us Thu, 24 Jan 1980 00:00:00 +0530 Tue, 23 Jul 2013 12:38:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153399 Turnover earlier treated as exempt can still be reassessed as escaped turnover under section 16 if the assessing authority omitted it from tax by taking an erroneous view of exemption. The provision covers turnover left out of assessment for any reason, including items previously considered and exempted, and the reassessment was therefore upheld. Limitation under section 16 is satisfied when proceedings are initiated within five years from the expiry of the relevant assessment year; completion after that period does not bar the reassessment if the matter remained pending in time. The Madras HC therefore sustained the reassessments and rejected the limitation challenge. Case-Laws VAT and Sales Tax Thu, 24 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153399