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2016 (7) TMI 1424 - HC - VAT and Sales TaxRevision of assessment - suo moto revision of the assessment for the assessment year 1976-77 - time limitation - Held that: - The identical issue was considered by Hon'ble the Supreme Court in State of Punjab and others vs Bhatinda District Coop. Milk P. Union Limited [2007 (10) TMI 300 - SUPREME COURT OF INDIA]. It was observed that even if no period of limitation is provided under the Act for exercise of revisional jurisdiction that does not mean that the power can be exercised at any time. Five years period was held to be the final limit - the notice issued for revising the assessment after more than 20 years certainly deserves to be set aside on account of delay - petition allowed.
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