https://www.taxtmi.com/caselaws?id=165098 Reassessment under section 21 of the U.P. Trade Tax Act could not be initiated while the original assessment remained pending, because no material showed escapement of turnover. On the facts, the notice was issued only for transactions already under verification, so the statutory precondition for reassessment was absent and the proceeding was without jurisdiction. After the F forms covering stock transfers were verified and accepted, no further enquiry or reassessment could survive on the same transactions. The verified declarations satisfied the burden for exemption under the stock transfer provisions, and the assessee remained entitled to that exemption. en-us Fri, 19 Mar 2010 00:00:00 +0530 Mon, 13 Oct 2014 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165098 Reassessment under section 21 of the U.P. Trade Tax Act could not be initiated while the original assessment remained pending, because no material showed escapement of turnover. On the facts, the notice was issued only for transactions already under verification, so the statutory precondition for reassessment was absent and the proceeding was without jurisdiction. After the F forms covering stock transfers were verified and accepted, no further enquiry or reassessment could survive on the same transactions. The verified declarations satisfied the burden for exemption under the stock transfer provisions, and the assessee remained entitled to that exemption. Case-Laws VAT and Sales Tax Fri, 19 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165098