https://www.taxtmi.com/caselaws?id=163674 Where a taxing statute provides a specific mechanism for escaped turnover, suo motu revisional power cannot be used to reopen the assessment in that field. The court treated the escaped-assessment provision as controlling and held that the revisional route was impermissible. It also held that an Explanation inserted by amendment was not retrospective, because the statute did not clearly express or necessarily imply such effect, and it could not validate a reopening for an earlier final assessment year. The reopening was further barred because the applicable limitation period had expired before proceedings began, and the later extension to five years could not revive a time-barred action. en-us Fri, 27 Jul 2007 00:00:00 +0530 Wed, 31 Dec 2014 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163674 Where a taxing statute provides a specific mechanism for escaped turnover, suo motu revisional power cannot be used to reopen the assessment in that field. The court treated the escaped-assessment provision as controlling and held that the revisional route was impermissible. It also held that an Explanation inserted by amendment was not retrospective, because the statute did not clearly express or necessarily imply such effect, and it could not validate a reopening for an earlier final assessment year. The reopening was further barred because the applicable limitation period had expired before proceedings began, and the later extension to five years could not revive a time-barred action. Case-Laws VAT and Sales Tax Fri, 27 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163674