https://www.taxtmi.com/caselaws?id=159013 The Kerala High Court quashed previous orders and directed the assessing authority to reconsider the rate of tax applicable to "fenoklin" in accordance with the judgment and legal principles. The Court emphasized interpreting fiscal statutes based on popular or commercial meanings of terms and considering the functional character and market understanding of products. The assessing authority was instructed to provide a reasonable opportunity to the assessee during the reassessment process. en-us Wed, 10 Apr 1996 00:00:00 +0530 Wed, 13 Nov 2013 14:32:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159013 The Kerala High Court quashed previous orders and directed the assessing authority to reconsider the rate of tax applicable to "fenoklin" in accordance with the judgment and legal principles. The Court emphasized interpreting fiscal statutes based on popular or commercial meanings of terms and considering the functional character and market understanding of products. The assessing authority was instructed to provide a reasonable opportunity to the assessee during the reassessment process. Case-Laws VAT and Sales Tax Wed, 10 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159013