https://www.taxtmi.com/caselaws?id=165105 Reopening of assessment under section 21 of the U.P. Trade Tax Act, 1948 requires a reason to believe founded on relevant material with a live nexus to the escaped assessment for the concerned year. Material that is vague, remote, or unrelated cannot justify reassessment, and where the original assessment had already examined the stock transfer claim, a later attempt based on loose papers from a subsequent survey amounted to a mere change of opinion. The approval and consequential notices were therefore invalid, and the reassessment proceedings could not be sustained. en-us Thu, 29 Apr 2010 00:00:00 +0530 Thu, 09 Oct 2014 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165105 Reopening of assessment under section 21 of the U.P. Trade Tax Act, 1948 requires a reason to believe founded on relevant material with a live nexus to the escaped assessment for the concerned year. Material that is vague, remote, or unrelated cannot justify reassessment, and where the original assessment had already examined the stock transfer claim, a later attempt based on loose papers from a subsequent survey amounted to a mere change of opinion. The approval and consequential notices were therefore invalid, and the reassessment proceedings could not be sustained. Case-Laws VAT and Sales Tax Thu, 29 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165105