https://www.taxtmi.com/caselaws?id=402148 Under the Karnataka Value Added Tax regime, monthly returns are the relevant tax periods and deemed assessment operates period-wise. Reassessment under Section 39(1)(a) is therefore confined to months in which the return is incorrect or the tax liability is understated, and the authority may reassess only the additional tax payable for those periods. Filing audited annual statements or revised forms does not override the statutory limits for filing and revising returns under Section 35. Excess tax paid in other months could have been claimed within the prescribed return process, but it did not require reopening the entire financial year. en-us Wed, 02 Dec 2020 00:00:00 +0530 Wed, 16 Jun 2021 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402148 Under the Karnataka Value Added Tax regime, monthly returns are the relevant tax periods and deemed assessment operates period-wise. Reassessment under Section 39(1)(a) is therefore confined to months in which the return is incorrect or the tax liability is understated, and the authority may reassess only the additional tax payable for those periods. Filing audited annual statements or revised forms does not override the statutory limits for filing and revising returns under Section 35. Excess tax paid in other months could have been claimed within the prescribed return process, but it did not require reopening the entire financial year. Case-Laws VAT and Sales Tax Wed, 02 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402148