https://www.taxtmi.com/caselaws?id=150653 Under the Punjab General Sales Tax Act, 1948, the computation of taxable turnover is separate from the liability to purchase tax, and deductions specifically allowed by section 5(2)(a) must be applied in that computation. Where cotton purchased for purchase tax purposes is exported out of India within six months of purchase, section 5(2)(a)(vi) permits deduction of the purchase price from taxable turnover. The earlier Supreme Court ruling relied on did not exclude that deduction for cotton subject to purchase tax. On that basis, the assessment orders refusing the deduction were legally erroneous. en-us Mon, 12 Nov 1973 00:00:00 +0530 Mon, 20 May 2013 18:00:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150653 Under the Punjab General Sales Tax Act, 1948, the computation of taxable turnover is separate from the liability to purchase tax, and deductions specifically allowed by section 5(2)(a) must be applied in that computation. Where cotton purchased for purchase tax purposes is exported out of India within six months of purchase, section 5(2)(a)(vi) permits deduction of the purchase price from taxable turnover. The earlier Supreme Court ruling relied on did not exclude that deduction for cotton subject to purchase tax. On that basis, the assessment orders refusing the deduction were legally erroneous. Case-Laws VAT and Sales Tax Mon, 12 Nov 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150653