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2009 (7) TMI 1174 - HC - VAT and Sales TaxWhether after repeal of the PGST Act, 1948 with effect from April 1, 2005 by the repealing section 92(1) of the Punjab VAT Act, any amendment was valid for extending the period of limitation from three years to five years by promulgation of section 11CC by Punjab Act 10 of 2005 which came into force with effect from May 12, 2005? Whether the rights vested in the assessee acquired on April 30, 2005 would extinguish by an amendment made by Act No. 10 of 2005 with effect from May 12, 2005 although the amendment has not been given retrospective effect or could the time-barred assessment be re-opened on the basis of statutory extension of time? Held that:- On the basis of legislative intendment discernible from the amendments either by the 2005 Ordinance or by the Punjab Act No. 10 of 2005, the principles applicable to re-opening of time-barred assessments, which are explicit from various precedents no doubt is left that the questions of law deserve to be answered in favour of the appellant-Corporation and against the Revenue. Accordingly, appeals are allowed. The assessment orders and consequential demands are also quashed.
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