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M/S. Kotak Mahindra Prime Limited vs The State Of Karnataka on 8 February, 2016

In the case of M/s Kotak Mahindra, supra, the cognate bench of this Court has observed that the proceedings sought to be re-opened under Section 41 of the KVAT Act are on the basis of the judgment is not permissible. If at all, it is the revisional authority who may be vested with such power. It is indeed so, as the authority had the benefit of the judgment of this Court and could not therefore on the basis of the said judgment, seek to re-open the proceedings on the footing that the re-assessment order was prejudicial to the interest of the revenue. It was revisional authority to have re-opened the said proceedings on any such opinion. In the said case, proceedings were initiated under Section 41(1) of the KVAT ACT to rectify the re- assessment order on the basis of the judgment of this Court in the case of State of Karnataka vs. M/s Centum Industries (P) Limited which was available to the Assessing Authority at the time of passing of the re- assessment order.
Karnataka High Court Cites 8 - Cited by 1 - A Byrareddy - Full Document
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