EXIDE INDUSTRIES LIMITED Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) Heard learned counsel for the petitioner Company and the learned counsel for the State.

(2.) The petitioner Company is aggrieved by the impugned reassessment of the tax liability, made under Section 40(1) of the J.V.A.T. Act, by order dated 29.06.2015, passed by the respondent No.3, CTO, Urban Circle Jamshedpur, as contained in Annexure-7 of the writ application. The said order was also sustained by the Appellate Authority by the order dated 03.03.2016, as contained in Annexure-8 to the writ application, and the revision filed against the same by the petitioner was also dismissed by Judgment dated 18th May, 2017, passed by the Commercial Taxes Tribunal, Ranchi, (hereinafter referred to as "Tribunal"), in Revision Petition No. JR 73 of 2016, as contained in Annexure-9 to the writ application. All these orders / Judgement are challenged by the petitioner in this writ application.

(3.) Admittedly, the matter relates to the A.Y. 2009-2010, for which the assessment of the tax liability of the petitioner was made by the Assessing Authority by order dated 07.03.2013, as contained in Annexure-1 to the writ application. The only point that has been canvassed by the learned counsel for the petitioner is that the reassessment made by the CTO was beyond the un-extendable period of limitation of five years, as prescribed under Section 40(4) of the J.V.A.T. Act, which reads as follows:-