https://www.taxtmi.com/caselaws?id=400798 A reassessment order could not stand where a material jurisdictional question affecting the levy, including tax on interstate stock transfers and local sales in other States, had not been examined; the matter was remanded for fresh consideration after reasonable opportunity. The subsidy component also required reconsideration in light of the Supreme Court's ruling on fertilizer subsidy taxability, and the assessing authority could not disregard that principle merely because the KVAT Act differed from the statutes previously considered. The levy was therefore not finally sustained and had to be re-examined on remand, including the effect of the statutory exclusion of subsidies in the valuation provision. en-us Fri, 06 Nov 2020 00:00:00 +0530 Mon, 04 Nov 2024 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400798 A reassessment order could not stand where a material jurisdictional question affecting the levy, including tax on interstate stock transfers and local sales in other States, had not been examined; the matter was remanded for fresh consideration after reasonable opportunity. The subsidy component also required reconsideration in light of the Supreme Court's ruling on fertilizer subsidy taxability, and the assessing authority could not disregard that principle merely because the KVAT Act differed from the statutes previously considered. The levy was therefore not finally sustained and had to be re-examined on remand, including the effect of the statutory exclusion of subsidies in the valuation provision. Case-Laws VAT / Sales Tax Fri, 06 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400798