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2015 (12) TMI 311 - HC - VAT and Sales TaxValidity of reassessment proceedings - Section 21 - Evasion of duty - Held that:- Assessing Authority has in its possession certain informations on the basis on which he prima facie has reason to believe that certain turnover of the petitioner has escaped assessment. The grounds on which the proceedings have been initiated are neither irrational nor extraneous in character. - Division Bench of this Court in M/s. Parmarth Steel and Alloys Pvt. Ltd. (2013 (5) TMI 285 - ALLAHABAD HIGH COURT), considered the validity of proceedings under Section 21 of the Act and following the law laid down by the Hon'ble Supreme Court in the case of M/s. Bhagwan Industries(P) Ltd. (1972 (10) TMI 90 - SUPREME COURT OF INDIA) held the proceedings to be valid. - No illegality in the impugned notices/authorisation under Section 21 of the Act for the Assessment Years 2004-05 (U.P. and Central) and 2005-06 (U.P. and Central). So far as the submission of learned counsel for the petitioner that the goods are exempt, suffice is to say that this question along with all other points that may be raised by the petitioner shall be considered by the Assessing Authority in the reassessment proceedings while passing reassessment order. - Decided against assessee.
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