https://www.taxtmi.com/caselaws?id=167911 Reassessment notices issued under the Punjab General Sales Tax Act after the five-year period from the close of the relevant assessment year were time-barred and invalid. The High Court noted that section 11A permits reassessment only within five years, so notices issued in December 2008 for assessment years ending by 31 March 2001 fell outside the statutory limit. It further held that revisional power under section 21, though not subject to an express limitation, must be exercised within a reasonable period, ordinarily within three years and in any event not beyond five years. The reassessment and consequential demand were quashed. en-us Tue, 21 Feb 2012 00:00:00 +0530 Thu, 08 Jan 2015 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167911 Reassessment notices issued under the Punjab General Sales Tax Act after the five-year period from the close of the relevant assessment year were time-barred and invalid. The High Court noted that section 11A permits reassessment only within five years, so notices issued in December 2008 for assessment years ending by 31 March 2001 fell outside the statutory limit. It further held that revisional power under section 21, though not subject to an express limitation, must be exercised within a reasonable period, ordinarily within three years and in any event not beyond five years. The reassessment and consequential demand were quashed. Case-Laws VAT and Sales Tax Tue, 21 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167911