https://www.taxtmi.com/caselaws?id=400593 Reassessment under the Kerala Value Added Tax Act could not be sustained after expiry of the five-year limit where the retrospective insertion of Section 42(3) was used to revive stale assessments. The Kerala HC treated Rule 58(20) as reflecting the practical outer limit for exercising reassessment powers and emphasised that reopening must not unfairly prejudice the assessee, especially where books and records may no longer be available to answer allegations of escaped turnover. A retrospective deeming provision does not, by itself, authorise unlimited reopening beyond a reasonable limitation period, and tax powers must be exercised consistently with statutory time constraints and fairness. en-us Tue, 20 Oct 2020 00:00:00 +0530 Fri, 18 Jun 2021 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400593 Reassessment under the Kerala Value Added Tax Act could not be sustained after expiry of the five-year limit where the retrospective insertion of Section 42(3) was used to revive stale assessments. The Kerala HC treated Rule 58(20) as reflecting the practical outer limit for exercising reassessment powers and emphasised that reopening must not unfairly prejudice the assessee, especially where books and records may no longer be available to answer allegations of escaped turnover. A retrospective deeming provision does not, by itself, authorise unlimited reopening beyond a reasonable limitation period, and tax powers must be exercised consistently with statutory time constraints and fairness. Case-Laws VAT and Sales Tax Tue, 20 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400593