https://www.taxtmi.com/caselaws?id=157656 The court allowed the appeal, setting aside the Joint Commissioner's order and restoring the Appellate Assistant Commissioner's decision. It held that transit insurance charges, when separately collected and shown in the invoices as per the contract terms, should not be included in the taxable turnover. The court emphasized that these charges are akin to freight charges and should be excluded from the sale price when separately charged. The decision reaffirmed that the nature of the transaction and the terms of the contract are crucial in determining the components of the sale price for tax purposes. en-us Thu, 10 Oct 1991 00:00:00 +0530 Wed, 09 Oct 2013 11:54:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157656 The court allowed the appeal, setting aside the Joint Commissioner's order and restoring the Appellate Assistant Commissioner's decision. It held that transit insurance charges, when separately collected and shown in the invoices as per the contract terms, should not be included in the taxable turnover. The court emphasized that these charges are akin to freight charges and should be excluded from the sale price when separately charged. The decision reaffirmed that the nature of the transaction and the terms of the contract are crucial in determining the components of the sale price for tax purposes. Case-Laws VAT and Sales Tax Thu, 10 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157656