https://www.taxtmi.com/caselaws?id=68904 Scrap copper wire sold on 9 June 1971 was taxable at the applicable 3% multi-point rate, not at 9%, so the higher levy was unsustainable. The addition to taxable turnover for alleged defects in accounts was cancelled because the accounts had been produced and no finding showed how the defects affected assessment. Movement of aluminium rods and galvanised steel wire was treated as a loan transaction supported by verification and prior acceptance of similar transactions, so no taxable sale arose. en-us Mon, 18 Oct 1976 00:00:00 +0530 Sat, 02 Apr 2011 12:54:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68904 Scrap copper wire sold on 9 June 1971 was taxable at the applicable 3% multi-point rate, not at 9%, so the higher levy was unsustainable. The addition to taxable turnover for alleged defects in accounts was cancelled because the accounts had been produced and no finding showed how the defects affected assessment. Movement of aluminium rods and galvanised steel wire was treated as a loan transaction supported by verification and prior acceptance of similar transactions, so no taxable sale arose. Case-Laws Income Tax Mon, 18 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68904