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2010 (7) TMI 928 - HC - VAT and Sales TaxWhether the jurisdiction invoked by the opposite party after coming into force of the amendment, has got to cover a period of limitation up to "five years" preceding next the date of issuance of the impugned notice or the limitation as prescribed in the amended provision is prospective in nature and it would apply only to reassessments onwards from the date of coming into force of the amendment? Held that:- Admittedly the notice vide annexure 4 in this case has been issued on July 17, 2008 and the alleged "escaped turnover" relates to the period 2003-04. Whatever be the mode of reckoning of the period of limitation, be it "five years" from the end of the period 2003-04 or be it "five years" backward from the date of the issuance of the impugned notice vide annexure 4, the initiation of the reassessment proceeding cannot be held to be barred by limitation. Appeal dismissed.
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