https://www.taxtmi.com/caselaws?id=752788 Section 29 of the Uttar Pradesh Value Added Tax Act, 2008 is described as a turnover-escaped-assessment provision and not an independent route to reopen only input tax credit. The text distinguishes input tax credit from turnover-based reassessment and states that wrongly claimed credit is dealt with under the regular assessment framework and the reversal mechanism in Section 14. It also states that reassessment must comply with natural justice: a notice, hearing and completion of proceedings within an unduly compressed timeframe, with the matter effectively closed at the first hearing, does not provide a fair and reasonable opportunity to respond. en-us Thu, 25 Apr 2024 00:00:00 +0530 Sat, 18 May 2024 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752788 Section 29 of the Uttar Pradesh Value Added Tax Act, 2008 is described as a turnover-escaped-assessment provision and not an independent route to reopen only input tax credit. The text distinguishes input tax credit from turnover-based reassessment and states that wrongly claimed credit is dealt with under the regular assessment framework and the reversal mechanism in Section 14. It also states that reassessment must comply with natural justice: a notice, hearing and completion of proceedings within an unduly compressed timeframe, with the matter effectively closed at the first hearing, does not provide a fair and reasonable opportunity to respond. Case-Laws VAT and Sales Tax Thu, 25 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752788