https://www.taxtmi.com/caselaws?id=128356 Rule 18(2) of the Turnover and Assessment Rules allows a registered oil manufacturer a deduction to prevent double taxation on groundnut or kernel used in producing oil. The proviso to rule 18(2) was read as setting an upper limit by reference to the actual purchase turnover attributable to the groundnut or kernel included in net turnover. A notional valuation worked out under the rule cannot itself fix the ceiling, because it is not the relevant turnover for this purpose. The broader claim based on notional value was rejected. en-us Fri, 15 Sep 1961 00:00:00 +0530 Tue, 02 Apr 2013 15:07:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128356 Rule 18(2) of the Turnover and Assessment Rules allows a registered oil manufacturer a deduction to prevent double taxation on groundnut or kernel used in producing oil. The proviso to rule 18(2) was read as setting an upper limit by reference to the actual purchase turnover attributable to the groundnut or kernel included in net turnover. A notional valuation worked out under the rule cannot itself fix the ceiling, because it is not the relevant turnover for this purpose. The broader claim based on notional value was rejected. Case-Laws VAT and Sales Tax Fri, 15 Sep 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128356