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2019 (9) TMI 173 - HC - VAT and Sales TaxInput tax credit - deemed assessment under Section 22(2) of TNVAT Act - sub-sections (1) and (2) of Section 27 of TNVAT Act - time limitation - HELD THAT:- The arguments advanced by learned Revenue Counsel, may have become acceptable if the first revisional noticed dated 26.09.2017 had not culminated in a revised assessment order after obtaining objections from the writ petitioner dealer. The fundamental and cardinal principle in limitation is that the remedy is barred, but the right is not extinguished. If the rival pleas are tested using this cardinal principle as touchstone, it emerges clearly that if the rights to revise the assessment order is construed as a statutory right under TNVAT Act, the rights do not get extinguished, but the proceedings cannot be commenced after the period of limitation. This Court is left with the considered view that it would be appropriate to set aside the impugned order, but direct the respondent to redo the revised assessment based on the first revisional notice without adding any material or without adding new points to the same. Impugned order set aside - respondent is directed to redo the second revised assessment order - petition allowed by way of remand.
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