https://www.taxtmi.com/caselaws?id=102926 The Supreme Court of India held that the entire purchase turnover of cotton was deductible under section 5(2)(a)(vi) of the Punjab General Sales Tax Act where the assessee sold the ginned cotton to registered dealers and was not the last purchaser liable to tax. Cotton, as declared goods, remained subject to single-stage levy under section 15(a) of the Central Sales Tax Act, 1956, and the retention of cotton seeds as a by-product did not mean that any part of the cotton itself was retained. The assessing authority could not include the value of cotton seeds while computing the admissible deduction on the cotton purchase turnover. en-us Thu, 27 Apr 1989 00:00:00 +0530 Tue, 10 Sep 2013 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102926 The Supreme Court of India held that the entire purchase turnover of cotton was deductible under section 5(2)(a)(vi) of the Punjab General Sales Tax Act where the assessee sold the ginned cotton to registered dealers and was not the last purchaser liable to tax. Cotton, as declared goods, remained subject to single-stage levy under section 15(a) of the Central Sales Tax Act, 1956, and the retention of cotton seeds as a by-product did not mean that any part of the cotton itself was retained. The assessing authority could not include the value of cotton seeds while computing the admissible deduction on the cotton purchase turnover. Case-Laws VAT and Sales Tax Thu, 27 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102926