https://www.taxtmi.com/caselaws?id=110400 A writ challenge to the stockbroker registration-fee levy was held barred by res judicata and constructive res judicata because the earlier Supreme Court proceedings had already addressed the same levy in substance, and matters that might and ought to have been raised then could not be reopened. On merits, "annual turnover" under Schedule III was construed in its plain and contextual sense as the aggregate sale and purchase prices of securities received and receivable during the financial year, not merely the net difference or brokerage element. The differing wording used for derivatives in another schedule did not control this provision. The levy and the registration-fee demand were therefore sustained. en-us Thu, 22 Apr 2004 00:00:00 +0530 Mon, 16 Apr 2012 16:04:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110400 A writ challenge to the stockbroker registration-fee levy was held barred by res judicata and constructive res judicata because the earlier Supreme Court proceedings had already addressed the same levy in substance, and matters that might and ought to have been raised then could not be reopened. On merits, "annual turnover" under Schedule III was construed in its plain and contextual sense as the aggregate sale and purchase prices of securities received and receivable during the financial year, not merely the net difference or brokerage element. The differing wording used for derivatives in another schedule did not control this provision. The levy and the registration-fee demand were therefore sustained. Case-Laws Companies Law Thu, 22 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110400