https://www.taxtmi.com/caselaws?id=168953 In taxing statutes, the validity of reassessment notices is tested against the law in force when the reopening power is exercised, not the law applicable to the earlier assessment year. Applying that principle and the earlier ruling on reassessment retrospectivity, the court treated the authority as having no vested right to act contrary to the law then in force. The limitation challenge to the notices therefore failed, and the later amendment to the incentive scheme did not alter the result. The reassessment proceedings were held not invalid on limitation grounds, and the revision petition failed. en-us Wed, 17 Jul 2013 00:00:00 +0530 Mon, 06 Apr 2015 20:04:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168953 In taxing statutes, the validity of reassessment notices is tested against the law in force when the reopening power is exercised, not the law applicable to the earlier assessment year. Applying that principle and the earlier ruling on reassessment retrospectivity, the court treated the authority as having no vested right to act contrary to the law then in force. The limitation challenge to the notices therefore failed, and the later amendment to the incentive scheme did not alter the result. The reassessment proceedings were held not invalid on limitation grounds, and the revision petition failed. Case-Laws VAT and Sales Tax Wed, 17 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168953