https://www.taxtmi.com/caselaws?id=243165 Reassessment under Section 21 of the U.P. Trade Tax Act, 1948 is valid where the assessing authority has relevant material creating an objective and rational basis to believe turnover has escaped assessment. The expression "reason to believe" requires a nexus between the material and the belief, but the sanction order need not record elaborate reasons if it shows application of mind. On the facts, search material indicating substantial transactions with the assessee provided sufficient basis for reopening, and the assessee's objections to exemption-based tax liability were matters for assessment, not jurisdiction. The HC held the reassessment notices valid and found no ground for interference under Article 226. en-us Thu, 09 Jan 2014 00:00:00 +0530 Tue, 08 Jul 2014 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243165 Reassessment under Section 21 of the U.P. Trade Tax Act, 1948 is valid where the assessing authority has relevant material creating an objective and rational basis to believe turnover has escaped assessment. The expression "reason to believe" requires a nexus between the material and the belief, but the sanction order need not record elaborate reasons if it shows application of mind. On the facts, search material indicating substantial transactions with the assessee provided sufficient basis for reopening, and the assessee's objections to exemption-based tax liability were matters for assessment, not jurisdiction. The HC held the reassessment notices valid and found no ground for interference under Article 226. Case-Laws VAT and Sales Tax Thu, 09 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243165