https://www.taxtmi.com/caselaws?id=157369 Cancelled supplies were held not to form part of taxable turnover where no sale price was ultimately payable, because tax liability under the 1941 Act depended on a completed sale and consideration. The claimed 49% trade discount was disallowed for want of reliable proof of any such agreement, and the allowance of 30% was upheld on the evidence. Deduction claims under section 5(2)(a)(ii) were rejected for insufficient supporting declaration material and failure to establish the transactions satisfactorily. Retention of seized books and documents was not sustained, and return of the records after copying and authentication was directed. en-us Mon, 18 Apr 1994 00:00:00 +0530 Fri, 04 Oct 2013 15:37:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157369 Cancelled supplies were held not to form part of taxable turnover where no sale price was ultimately payable, because tax liability under the 1941 Act depended on a completed sale and consideration. The claimed 49% trade discount was disallowed for want of reliable proof of any such agreement, and the allowance of 30% was upheld on the evidence. Deduction claims under section 5(2)(a)(ii) were rejected for insufficient supporting declaration material and failure to establish the transactions satisfactorily. Retention of seized books and documents was not sustained, and return of the records after copying and authentication was directed. Case-Laws VAT and Sales Tax Mon, 18 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157369