https://www.taxtmi.com/caselaws?id=343058 Reassessment under the U.P. VAT Act requires an objective reason to believe, based on concrete material, that turnover has escaped assessment, been under-assessed, taxed at a lower rate, or wrongly allowed as deduction or exemption. A later view on the same material amounts only to a change of opinion and cannot justify reassessment or be used as a substitute for review of the original assessment. The extended limitation period does not dispense with this jurisdictional requirement. On that basis, the reassessment proceedings, the Commissioner's permission, and the consequential notices were held invalid and quashed. en-us Wed, 10 May 2017 00:00:00 +0530 Thu, 18 May 2017 07:31:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343058 Reassessment under the U.P. VAT Act requires an objective reason to believe, based on concrete material, that turnover has escaped assessment, been under-assessed, taxed at a lower rate, or wrongly allowed as deduction or exemption. A later view on the same material amounts only to a change of opinion and cannot justify reassessment or be used as a substitute for review of the original assessment. The extended limitation period does not dispense with this jurisdictional requirement. On that basis, the reassessment proceedings, the Commissioner's permission, and the consequential notices were held invalid and quashed. Case-Laws VAT and Sales Tax Wed, 10 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343058