https://www.taxtmi.com/caselaws?id=262077 The assessing authority had already issued notice, examined the books of account and reconciliation statement, and considered the turnover before completing assessment, so the disputed DEPB sale proceeds were not an omitted item outside the assessment process. On those facts, the Tribunal's view that the matter involved a mistake of law rather than escaped assessment was not perverse. Although revisional power cannot be used to invade the exclusive field of reassessment, the factual basis for invoking reassessment was absent, so the revisional jurisdiction was upheld and the challenge failed. en-us Mon, 20 Jul 2015 00:00:00 +0530 Fri, 31 Jul 2015 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262077 The assessing authority had already issued notice, examined the books of account and reconciliation statement, and considered the turnover before completing assessment, so the disputed DEPB sale proceeds were not an omitted item outside the assessment process. On those facts, the Tribunal's view that the matter involved a mistake of law rather than escaped assessment was not perverse. Although revisional power cannot be used to invade the exclusive field of reassessment, the factual basis for invoking reassessment was absent, so the revisional jurisdiction was upheld and the challenge failed. Case-Laws VAT and Sales Tax Mon, 20 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262077