https://www.taxtmi.com/caselaws?id=156499 For applying Explanation III to the Third Schedule, the assessment year was the proper unit for determining tax liability on paddy and rice, rather than treating Food Corporation of India sales and open-market sales separately. Tax was levied on the turnover of the assessment year, and provisional assessments made at intervals remained subject to final yearly assessment. All paddy and rice transactions during the year were therefore relevant when applying the explanation that reduces tax on rice procured from paddy already taxed. The assessment year was accordingly treated as the basis for total liability, and the revision failed. en-us Mon, 29 Jan 1990 00:00:00 +0530 Fri, 20 Sep 2013 17:18:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=156499 For applying Explanation III to the Third Schedule, the assessment year was the proper unit for determining tax liability on paddy and rice, rather than treating Food Corporation of India sales and open-market sales separately. Tax was levied on the turnover of the assessment year, and provisional assessments made at intervals remained subject to final yearly assessment. All paddy and rice transactions during the year were therefore relevant when applying the explanation that reduces tax on rice procured from paddy already taxed. The assessment year was accordingly treated as the basis for total liability, and the revision failed. Case-Laws VAT and Sales Tax Mon, 29 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=156499