High Court Upholds Validity of Assessment Notice on ITC Carry Forward Under WBVAT Act Section 46; Broad Interpretation Affirmed.

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....Validity of assessment notice u/s 46 of WBVAT Act - carry forward of excess ITC to next FY - The rule of ejusdem generis is inapplicable to the case on hand as Section 46 (1) (b) does not contain enumeration of specific words; the circumstance enumerated in clause (b) does not constitute a class or category; contingencies mentioned therein is not exhausted by enumeration; the general terms do not follow the enumeration and there is clear indication of a different legislative intent. - The words or “for any other reasons” should be given the widest meaning bearing in mind the scheme of the provisions of WBVAT - the notice was issued by respondent on the assessee are valid in law. - HC....