https://www.taxtmi.com/caselaws?id=150238 Item 15 of Schedule I to the Madras General Sales Tax Act, read in its commercial and legislative context, covers precious metals in both pure and alloyed form; silver ingots produced by smelting old and unserviceable silver ornaments therefore fall within "bullion pure or alloy and specie". On that construction, such goods cannot be treated as multi-point taxable goods for reassessment. The reassessing authority relied only on the Tribunal's view and gave no independent reasoning, and the reassessment was held unsustainable. en-us Tue, 13 Jun 1972 00:00:00 +0530 Fri, 10 May 2013 15:31:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150238 Item 15 of Schedule I to the Madras General Sales Tax Act, read in its commercial and legislative context, covers precious metals in both pure and alloyed form; silver ingots produced by smelting old and unserviceable silver ornaments therefore fall within "bullion pure or alloy and specie". On that construction, such goods cannot be treated as multi-point taxable goods for reassessment. The reassessing authority relied only on the Tribunal's view and gave no independent reasoning, and the reassessment was held unsustainable. Case-Laws VAT and Sales Tax Tue, 13 Jun 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150238