https://www.taxtmi.com/caselaws?id=150485 Industrial diamonds were held not to fall within item 30 of Schedule I as "precious stones" because the entry had to be construed in its commercial sense, and the illustrative words following "namely" described gem stones used for ornamentation rather than low-grade diamonds used in tools and drilling. On that construction, departmental instructions could not alter the charging entry. The Tribunal's view that industrial diamonds were taxable only at the multi-point rate was upheld, and the assessment and penalty based on item 30 could not stand. en-us Tue, 26 Sep 1972 00:00:00 +0530 Fri, 17 May 2013 14:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150485 Industrial diamonds were held not to fall within item 30 of Schedule I as "precious stones" because the entry had to be construed in its commercial sense, and the illustrative words following "namely" described gem stones used for ornamentation rather than low-grade diamonds used in tools and drilling. On that construction, departmental instructions could not alter the charging entry. The Tribunal's view that industrial diamonds were taxable only at the multi-point rate was upheld, and the assessment and penalty based on item 30 could not stand. Case-Laws VAT and Sales Tax Tue, 26 Sep 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150485