https://www.taxtmi.com/caselaws?id=409462 Section 12A of the Karnataka Sales Tax Act authorises reassessment where turnover has escaped assessment, been under-assessed, or taxed at a lower rate, and the reopened proceedings proceed as a fresh assessment. The Assessing Authority is therefore required to determine the correct lawful tax liability on the reassessed turnover, including the proper rate of tax, rather than treating the power as limited to enhancement alone. The contrary view that reassessment could only increase liability was held inconsistent with the scope of the provision, and the Tribunal's finding was set aside in favour of the assessee. en-us Thu, 17 Jun 2021 00:00:00 +0530 Thu, 08 Jul 2021 08:47:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409462 Section 12A of the Karnataka Sales Tax Act authorises reassessment where turnover has escaped assessment, been under-assessed, or taxed at a lower rate, and the reopened proceedings proceed as a fresh assessment. The Assessing Authority is therefore required to determine the correct lawful tax liability on the reassessed turnover, including the proper rate of tax, rather than treating the power as limited to enhancement alone. The contrary view that reassessment could only increase liability was held inconsistent with the scope of the provision, and the Tribunal's finding was set aside in favour of the assessee. Case-Laws VAT and Sales Tax Thu, 17 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409462