https://www.taxtmi.com/caselaws?id=751245 Reassessment based on alleged escaped turnover could not survive after the Supreme Court held that the sale value of exempt de-oiled rice bran must be included in the statutory exclusion under the Uttar Pradesh VAT regime. Once that legal foundation was displaced, the premise that input tax credit had been wrongly granted on rice bran purchases no longer supported the limitation order or consequential reassessment notice. The Allahabad HC therefore quashed the impugned reassessment action and allowed the writ petition. en-us Mon, 08 Apr 2024 00:00:00 +0530 Thu, 11 Apr 2024 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751245 Reassessment based on alleged escaped turnover could not survive after the Supreme Court held that the sale value of exempt de-oiled rice bran must be included in the statutory exclusion under the Uttar Pradesh VAT regime. Once that legal foundation was displaced, the premise that input tax credit had been wrongly granted on rice bran purchases no longer supported the limitation order or consequential reassessment notice. The Allahabad HC therefore quashed the impugned reassessment action and allowed the writ petition. Case-Laws VAT and Sales Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751245