https://www.taxtmi.com/caselaws?id=68845 Goods invoiced, appropriated to specific orders and despatched were treated as a completed sale even though physical delivery was not taken by the purchaser. Goods later returned through bank or carrier arrangements after the sale had been completed were characterised as sales return, provided the statutory accounting conditions under Rule 5-A(b) were satisfied. The alternative claim that the transactions were merely unfructified sales deductible only in the earlier year was rejected because the return of goods did not alter the completed nature of the sale. The disputed turnover reduction was therefore allowable as sales return. en-us Fri, 01 Aug 1975 00:00:00 +0530 Sat, 02 Apr 2011 10:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68845 Goods invoiced, appropriated to specific orders and despatched were treated as a completed sale even though physical delivery was not taken by the purchaser. Goods later returned through bank or carrier arrangements after the sale had been completed were characterised as sales return, provided the statutory accounting conditions under Rule 5-A(b) were satisfied. The alternative claim that the transactions were merely unfructified sales deductible only in the earlier year was rejected because the return of goods did not alter the completed nature of the sale. The disputed turnover reduction was therefore allowable as sales return. Case-Laws Income Tax Fri, 01 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68845