https://www.taxtmi.com/caselaws?id=152303 The Kerala High Court upheld the inclusion of amounts due under price variation bills in the taxable turnover of Aluminium Industries Ltd. for the assessment years 1966-67 and 1967-68. The Court emphasized that the definition of "turnover" includes amounts receivable by the dealer, regardless of when billing occurs. It rejected the argument that the amount should only be considered receivable upon issuing a supplementary bill to the customer. The judgment clarified the treatment of price variation in sales transactions, emphasizing the importance of receivability in assessing tax liability and dismissed the revision cases without costs. en-us Mon, 06 Mar 1978 00:00:00 +0530 Fri, 28 Jun 2013 18:13:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152303 The Kerala High Court upheld the inclusion of amounts due under price variation bills in the taxable turnover of Aluminium Industries Ltd. for the assessment years 1966-67 and 1967-68. The Court emphasized that the definition of "turnover" includes amounts receivable by the dealer, regardless of when billing occurs. It rejected the argument that the amount should only be considered receivable upon issuing a supplementary bill to the customer. The judgment clarified the treatment of price variation in sales transactions, emphasizing the importance of receivability in assessing tax liability and dismissed the revision cases without costs. Case-Laws VAT and Sales Tax Mon, 06 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152303