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of <h1>High Court rules silver bullion sales taxable, corrects Tribunal error. Incorrect 5% tax rate adjusted. Assessee absent, no costs.</h1> <h3>State of Orissa Versus Nagindas Jewellers</h3> The High Court of Orissa held that the Additional Sales Tax Tribunal erred in excluding the sale proceeds of silver bullion from taxable turnover. The ... - The High Court of Orissa held that the Additional Sales Tax Tribunal was not justified in deleting the sale proceeds of silver bullion from taxable turnover based on documents admitted at the second appellate stage. The Tribunal's decision to tax the turnover at 5% instead of 7% was also deemed incorrect. The reference was answered accordingly with no costs due to the absence of the assessee.
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