https://www.taxtmi.com/caselaws?id=765552 The HC quashed belated assessment orders passed in 2021 for assessment years 2003-2004 and 2004-2005 under the Entry Tax Act, 2001. The court held that while no specific time limit is prescribed for completing assessments under the Entry Tax Rules, 2001, assessments must be completed within a reasonable period. Since the department had accepted the returns filed by the petitioner for the respective years, assessment was deemed completed under Rule 4(1). Any subsequent reassessment powers could only be invoked within five years from the deemed assessment date. The court found no justification for the impugned orders passed after such an unreasonable delay and allowed the petition. en-us Fri, 24 Jan 2025 00:00:00 +0530 Tue, 04 Feb 2025 08:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765552 The HC quashed belated assessment orders passed in 2021 for assessment years 2003-2004 and 2004-2005 under the Entry Tax Act, 2001. The court held that while no specific time limit is prescribed for completing assessments under the Entry Tax Rules, 2001, assessments must be completed within a reasonable period. Since the department had accepted the returns filed by the petitioner for the respective years, assessment was deemed completed under Rule 4(1). Any subsequent reassessment powers could only be invoked within five years from the deemed assessment date. The court found no justification for the impugned orders passed after such an unreasonable delay and allowed the petition. Case-Laws VAT / Sales Tax Fri, 24 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765552