https://www.taxtmi.com/caselaws?id=389921 Plant and machinery used in executing a works contract remained capital goods and could not be added to composition turnover merely because they were employed in the contract; only goods involved in the execution of the works contract formed part of the taxable value, so the attempted higher-rate reassessment was unjustified. Reassessment authorization was also unsustainable because the original assessment had taxed the assessee at the composition rate, the imported goods value was below the relevant threshold, and no fresh material showed escaped assessment or underassessment. The impugned reassessment notice and authorization therefore could not stand in law. en-us Tue, 17 Dec 2019 00:00:00 +0530 Wed, 18 Dec 2019 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389921 Plant and machinery used in executing a works contract remained capital goods and could not be added to composition turnover merely because they were employed in the contract; only goods involved in the execution of the works contract formed part of the taxable value, so the attempted higher-rate reassessment was unjustified. Reassessment authorization was also unsustainable because the original assessment had taxed the assessee at the composition rate, the imported goods value was below the relevant threshold, and no fresh material showed escaped assessment or underassessment. The impugned reassessment notice and authorization therefore could not stand in law. Case-Laws VAT and Sales Tax Tue, 17 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389921