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2018 (10) TMI 1193 - HC - VAT and Sales TaxTime limit of framing assessments - period for framing the assessment was increased from 3 years to 6 years vide amendment carried on 15.11.2013 vide Punjab Act No. 38 of 2013 - whether such amendment have prospective or retrospective effect? - in the present case the assessments have been filed within six years, whether will be considered valid or will be time barred? Held that:- The validity of the aforesaid amendment was subject matter of consideration in Amrit Banaspati Company Limited's case [2015 (8) TMI 742 - PUNJAB AND HARYANA HIGH COURT]. In the aforesaid case for the assessment year 2006-07, notice for framing of assessment was issued on 23.9.2014. The writ petition was filed challenging the amendment claiming that the same was not retrospective, hence, will not take away the vested rights of the assessee, the period of assessment having lapsed. While dismissing the writ petition, Division Bench of this Court held the amendment to be retrospective in nature. The amendment carried out vide Punjab Act No. 38 of 2013 has been held to be retrospective in nature and the period for framing assessment has been extended to 6 years from 3 years and in the case in hand, the assessment of the appellants in all the cases was framed within the period of six years from the last date fixed for filing of returns, hence, the same cannot be said to be beyond limitation. Appeal dismissed - decided against appellant.
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