https://www.taxtmi.com/caselaws?id=753092 Section 5 of the Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sales) Act, 2005 was read with Rule 15 as confining assessment power to cases where the monthly return is not found correct and complete, so acceptance of the return and issuance of Form P-7 are prerequisites. The Act and Rules were found to contain no express escaped-assessment provision, and such taxing power could not be implied or borrowed from another statute. Monthly returns and monthly assessments were treated as the scheme of the Act, so an annual reassessment made after completion of monthly assessment was not sustainable. The Tribunal's view was upheld. en-us Sat, 16 Dec 2023 00:00:00 +0530 Fri, 24 May 2024 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753092 Section 5 of the Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sales) Act, 2005 was read with Rule 15 as confining assessment power to cases where the monthly return is not found correct and complete, so acceptance of the return and issuance of Form P-7 are prerequisites. The Act and Rules were found to contain no express escaped-assessment provision, and such taxing power could not be implied or borrowed from another statute. Monthly returns and monthly assessments were treated as the scheme of the Act, so an annual reassessment made after completion of monthly assessment was not sustainable. The Tribunal's view was upheld. Case-Laws VAT and Sales Tax Sat, 16 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753092