https://www.taxtmi.com/caselaws?id=128281 Goods sold under a hire-purchase arrangement and later returned to the seller were treated as a sale for turnover purposes, but deduction under rule 5(1)(b) was confined to the amount actually allowed on return. The decisive factor was the extent of the allowance reflected in the accounts, not the original assessment of the full sale price. Where the return of goods terminated liability for the unpaid balance, only those unpaid instalments could be deducted from gross turnover, provided the accounting requirement was satisfied. On the stated facts, the deductible amount was limited to the unpaid instalments and not the entire price previously taxed. en-us Thu, 24 Nov 1960 00:00:00 +0530 Sat, 30 Mar 2013 17:27:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128281 Goods sold under a hire-purchase arrangement and later returned to the seller were treated as a sale for turnover purposes, but deduction under rule 5(1)(b) was confined to the amount actually allowed on return. The decisive factor was the extent of the allowance reflected in the accounts, not the original assessment of the full sale price. Where the return of goods terminated liability for the unpaid balance, only those unpaid instalments could be deducted from gross turnover, provided the accounting requirement was satisfied. On the stated facts, the deductible amount was limited to the unpaid instalments and not the entire price previously taxed. Case-Laws VAT and Sales Tax Thu, 24 Nov 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128281