Court Rules on AO's Jurisdiction: Tax Assessment Order Exceeded 5-Year Limit, Invalidated 10% CST Tax Imposition.

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....Jurisdiction - power of AO to pass order after almost 11 years from the end of the year which is beyond the period of limitation - imposition of the additional tax @ 10% for non-submission of Form 'C' for CST sales - When a statute mandates re-assessment to be done, within five years, it cannot be contended that assessment can be done at any time - HC....