43. Power of re-assessment in certain cases.-

(1) Where any order passed by the Assessing Authority in respect of a dealer for any period is found to be erroneous or prejudicial to the interest of revenue consequent to or in the light of an order under section 72, section 73 or section 74 or order of any court which has become final, then notwithstanding anything contained in the Act, the Assessing Authority may proceed to reassess the tax payable by the dealer in accordance with such order, at any time within a period of two years from the date of such order.

(2) Where any court or Tribunal passes any order in appeal or revision to the effect that any tax assessed under the Act or the Central Sales tax Act, 1956 should have been assessed under the provision of a law other than that under which it was assessed, then in consequence of such order or to give effect to any finding or direction contained in such order such turnover and part thereof, may be assessed or reassessed, as the case may be, to tax at any time within four years from the date of such order, notwithstanding any limitation period which would otherwise be applicable to, the assessment or reassessment made.