https://www.taxtmi.com/caselaws?id=325200 A material issue affecting tax liability must be examined before reassessment or revision is upheld; where authorities rely on a clarificatory circular prescribing different rates without deciding whether it operates prospectively or retrospectively, the resulting orders are vitiated. The omission went to the foundation of the assessment exercise, so the reassessment and revisional orders were quashed and the matter remanded to the Assessing Authority for fresh consideration in accordance with law, with all contentions kept open. en-us Wed, 17 Feb 2016 00:00:00 +0530 Mon, 14 Mar 2016 12:10:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325200 A material issue affecting tax liability must be examined before reassessment or revision is upheld; where authorities rely on a clarificatory circular prescribing different rates without deciding whether it operates prospectively or retrospectively, the resulting orders are vitiated. The omission went to the foundation of the assessment exercise, so the reassessment and revisional orders were quashed and the matter remanded to the Assessing Authority for fresh consideration in accordance with law, with all contentions kept open. Case-Laws VAT and Sales Tax Wed, 17 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325200