https://www.taxtmi.com/caselaws?id=106058 Rule 29(xii) of the Punjab General Sales Tax Rules, 1949 was construed to allow deduction of the purchase value of raw material bought from exempted units because the expression "goods which have been subjected to tax" under section 5(1A) was not limited to goods that had actually borne tax payment. The statutory scheme distinguished levy, assessment, and the point of taxation, and the exemption available to the eligible unit was treated as an exemption from payability, not from assessment. On that construction, the assessee was entitled to the deduction and the department's narrower reading was rejected. en-us Fri, 07 Mar 2008 00:00:00 +0530 Sat, 24 Aug 2013 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106058 Rule 29(xii) of the Punjab General Sales Tax Rules, 1949 was construed to allow deduction of the purchase value of raw material bought from exempted units because the expression "goods which have been subjected to tax" under section 5(1A) was not limited to goods that had actually borne tax payment. The statutory scheme distinguished levy, assessment, and the point of taxation, and the exemption available to the eligible unit was treated as an exemption from payability, not from assessment. On that construction, the assessee was entitled to the deduction and the department's narrower reading was rejected. Case-Laws VAT and Sales Tax Fri, 07 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106058