https://www.taxtmi.com/caselaws?id=420846 Reassessment under Section 21(2) of the U.P. Trade Tax Act, 1948 cannot be sustained when a concluded assessment is reopened solely because a later judgment has clarified the law, without any fresh material or independent discovery of escaped turnover. Where the original assessment was completed on the basis of the records and materials then available, reopening on the strength of a subsequent judicial decision amounts to a mere change of opinion. The reassessment proceedings were therefore quashed in favour of the assessee. en-us Wed, 06 Apr 2022 00:00:00 +0530 Mon, 11 Apr 2022 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420846 Reassessment under Section 21(2) of the U.P. Trade Tax Act, 1948 cannot be sustained when a concluded assessment is reopened solely because a later judgment has clarified the law, without any fresh material or independent discovery of escaped turnover. Where the original assessment was completed on the basis of the records and materials then available, reopening on the strength of a subsequent judicial decision amounts to a mere change of opinion. The reassessment proceedings were therefore quashed in favour of the assessee. Case-Laws VAT and Sales Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420846