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2007 (7) TMI 609 - ORISSA HIGH COURTIncome escapement - suo motu revision - Held that:- It is clear that the period of limitation at that point of time was only 36 months, i.e., three years. The period of three years from 1978-79 has expired much prior to 1983 when the proceeding was suo motu initiated. The notice for initiating a suo motu revision was issued on March 1, 1985. It is also not in dispute that by way of amendment to section 12(8) the period of 36 months has been substituted by five years and the said provision has come into effect in 1983 by section 9(c) of the Act 23 of 1983 and the said amendment is also prospective. We, therefore, hold that at the time of issuing the notice for initiation of suo motu revision the limitation of 36 months was in force. Therefore, the argument of the learned counsel for the Revenue also fails. W.P. allowed. Set aside the notice for initiating suo motu revision.
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