https://www.taxtmi.com/caselaws?id=461240 The amended Section 42(3) of the Kerala Value Added Tax Act, 2003 was upheld as retrospectively valid, but the deeming fiction was read harmoniously with the Act's limitation scheme. The provision could not be applied literally to erase temporal limits or permit indefinite reopening of concluded assessments. Reassessment under the amendment was confined to a reasonable period linked to the dealer's obligation to retain books and records, preserving certainty and consistency within the statutory framework. en-us Wed, 30 Nov 2022 00:00:00 +0530 Sat, 22 Mar 2025 10:48:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461240 The amended Section 42(3) of the Kerala Value Added Tax Act, 2003 was upheld as retrospectively valid, but the deeming fiction was read harmoniously with the Act's limitation scheme. The provision could not be applied literally to erase temporal limits or permit indefinite reopening of concluded assessments. Reassessment under the amendment was confined to a reasonable period linked to the dealer's obligation to retain books and records, preserving certainty and consistency within the statutory framework. Case-Laws VAT / Sales Tax Wed, 30 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461240