https://www.taxtmi.com/caselaws?id=128386 The High Court allowed the exemption claim on the turnover related to purchases from other dealers, finding the reasoning of the lower authorities flawed. It held that maintaining separate accounts for bullion sales to distinguish between taxable first sales and exempt second sales was unnecessary and could lead to fabrication of accounts. The Court ruled that sales exceeding the quantity purchased from other dealers could be considered second sales exempt from tax, emphasizing a presumption in favor of non-taxable transactions and preventing tax evasion without burdening dealers. en-us Tue, 05 Dec 1961 00:00:00 +0530 Wed, 03 Apr 2013 18:26:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128386 The High Court allowed the exemption claim on the turnover related to purchases from other dealers, finding the reasoning of the lower authorities flawed. It held that maintaining separate accounts for bullion sales to distinguish between taxable first sales and exempt second sales was unnecessary and could lead to fabrication of accounts. The Court ruled that sales exceeding the quantity purchased from other dealers could be considered second sales exempt from tax, emphasizing a presumption in favor of non-taxable transactions and preventing tax evasion without burdening dealers. Case-Laws VAT and Sales Tax Tue, 05 Dec 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128386