TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Join Channel
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: (i) Whether the turnover relating to the unfructified sale and the returned goods was liable to be excluded from assessment. (ii) Whether the disputed goods described as silver steel and ENIA free steel fell within iron and steel as declared goods under the relevant schedule entry.
Issue (i): Whether the turnover relating to the unfructified sale and the returned goods was liable to be excluded from assessment.
Analysis: The first item related to a sale that was assessed earlier, but the consignee did not honour the bill and the appellants themselves later took delivery and resold the goods. The sale thus did not fructify as the original transaction. The second item concerned goods returned within the same financial year, and the return was verified on the record.
Conclusion: The turnover covered by these two items was directed to be excluded from assessment, in favour of the assessee.
Issue (ii): Whether the disputed goods described as silver steel and ENIA free steel fell within iron and steel as declared goods under the relevant schedule entry.
Analysis: The disputed goods were examined with reference to technical material, standard publications, and supplier catalogues. On that basis, silver steel was treated as a variety of steel, and ENIA free steel was treated as wrought steel. The treatment and composition described in the materials did not destroy their character as iron and steel, and no material was shown to take them outside the declared goods entry.
Conclusion: The disputed goods were held to be iron and steel falling within the declared goods entry, and the reduced rate of tax applied in favour of the assessee.
Final Conclusion: The appeal succeeded, and the disputed turnovers were either excluded or taxed at the lower declared-goods rate.
Ratio Decidendi: Goods remain classifiable as iron and steel where technical and commercial material shows them to be recognised varieties of steel, and a returned or unfructified sale is not includible in turnover for assessment.
TaxTMI 
