https://www.taxtmi.com/caselaws?id=249497 Reassessment under the U.P. Trade Tax Act requires objective, relevant material showing a rational nexus with escaped turnover; a mere conjecture or subjective assumption is insufficient. The recorded reasons here treated broken glass as a waste product allegedly obtained from filling factories, despite the assessee's consistent case that it had purchased broken glass from kabaries and was only a trader. The distinction between waste product and waste material was material, and the reasons did not establish a live link between the material relied on and any escapement of turnover. The sanction to reopen the assessment was therefore invalid and the reopening could not be sustained. en-us Mon, 29 Apr 2013 00:00:00 +0530 Tue, 15 Jul 2014 09:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249497 Reassessment under the U.P. Trade Tax Act requires objective, relevant material showing a rational nexus with escaped turnover; a mere conjecture or subjective assumption is insufficient. The recorded reasons here treated broken glass as a waste product allegedly obtained from filling factories, despite the assessee's consistent case that it had purchased broken glass from kabaries and was only a trader. The distinction between waste product and waste material was material, and the reasons did not establish a live link between the material relied on and any escapement of turnover. The sanction to reopen the assessment was therefore invalid and the reopening could not be sustained. Case-Laws VAT and Sales Tax Mon, 29 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249497