Reassessment Order Annulled and Remanded for Limitation Review; Assessing Authority Given Three Months to Act.

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....The revisional order for assessment proceedings for the financial year 2006-07 was challenged on the grounds of limitation u/s 33 of the TVAT Act, as it was undertaken after five years on 15/18.11.2012. The assessment order and reassessment order were based on presumptuous audit reports without forming an independent opinion. The penalty was levied without a proper show cause notice u/s 45(6) of the TVAT Act, 2004. The HC set aside the reassessment order dated 14.05.2019 and remanded the matter for reassessment, directing the Assessing Authority to first determine the limitation issue for 2006-07 after hearing the assessee. If not barred by limitation, the Assessing Authority shall proceed to determine other grounds on merits for that year. The Assessing Authority was directed to conclude the exercise within three months.....