https://www.taxtmi.com/caselaws?id=426457 Even where Section 6(3) of the Karnataka Tax on Luxuries Act, 1979 prescribes no express limitation period, assessment must still be completed within a reasonable time. The Karnataka HC treated the five-year period for escaped assessment under Section 7-A as a relevant benchmark and held that the belated assessment, initiated long after inspection and tax collection, was vitiated by unreasonable delay. The tax already collected was left undisturbed, but the consequential levy of interest and penalty was set aside because those ancillary liabilities could not survive once the assessment was found unsustainably delayed. en-us Tue, 22 Mar 2022 00:00:00 +0530 Wed, 17 Aug 2022 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426457 Even where Section 6(3) of the Karnataka Tax on Luxuries Act, 1979 prescribes no express limitation period, assessment must still be completed within a reasonable time. The Karnataka HC treated the five-year period for escaped assessment under Section 7-A as a relevant benchmark and held that the belated assessment, initiated long after inspection and tax collection, was vitiated by unreasonable delay. The tax already collected was left undisturbed, but the consequential levy of interest and penalty was set aside because those ancillary liabilities could not survive once the assessment was found unsustainably delayed. Case-Laws VAT and Sales Tax Tue, 22 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426457