https://www.taxtmi.com/forum/issue?id=109027 Section 29 empowers the assessing authority to reassess turnover and tax where turnover has escaped assessment or been under assessed, after recording reasons, serving notice and affording a hearing; reassessed tax is charged at the rate that would have applied but assessment to the best of judgment remains permitted. Time limits apply: generally no reassessment after three years from year end, with provisions allowing reassessment within three years and nine months if notice served within three years and six months, and a Commissioner's power to extend up to six years where just and expedient. en-us Thu, 13 Aug 2015 11:16:40 +0530 Thu, 23 Jan 2025 15:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109027 Section 29 empowers the assessing authority to reassess turnover and tax where turnover has escaped assessment or been under assessed, after recording reasons, serving notice and affording a hearing; reassessed tax is charged at the rate that would have applied but assessment to the best of judgment remains permitted. Time limits apply: generally no reassessment after three years from year end, with provisions allowing reassessment within three years and nine months if notice served within three years and six months, and a Commissioner's power to extend up to six years where just and expedient. Discussion-Forum VAT / Sales Tax Thu, 13 Aug 2015 11:16:40 +0530 https://www.taxtmi.com/forum/issue?id=109027