https://www.taxtmi.com/caselaws?id=278699 Where compounding under the Kerala Value Added Tax Act was approved on the basis of the assessee's declared turnover, and that turnover was later found to be /incorrect, the factual foundation of compounding was treated as vitiated. The court stated that the entire turnover could then be assessed as escaped turnover, and the earlier compounding arrangement did not bar reassessment. It further held that rectification is confined to apparent mistakes on the record and does not extend to a wrong factual declaration by the assessee, so the revenue was not restricted to rectification alone. The reassessment route was therefore upheld. en-us Mon, 08 Dec 2014 00:00:00 +0530 Mon, 18 Feb 2019 06:31:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278699 Where compounding under the Kerala Value Added Tax Act was approved on the basis of the assessee's declared turnover, and that turnover was later found to be /incorrect, the factual foundation of compounding was treated as vitiated. The court stated that the entire turnover could then be assessed as escaped turnover, and the earlier compounding arrangement did not bar reassessment. It further held that rectification is confined to apparent mistakes on the record and does not extend to a wrong factual declaration by the assessee, so the revenue was not restricted to rectification alone. The reassessment route was therefore upheld. Case-Laws VAT and Sales Tax Mon, 08 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278699