https://www.taxtmi.com/caselaws?id=160876 Acid oil or inferior oil, being a residue or by-product of refined oil, was treated by the Madras High Court as retaining the commercial character of vegetable oil rather than becoming a distinct chemical commodity. On that basis, it was held taxable under section 3(2) of the Tamil Nadu General Sales Tax Act, 1959, and not under section 3(1). On penalty for purchase tax-related liability, the Court noted that the law was unsettled and the assessee had acted under a bona fide belief; the penalty was therefore not sustained mechanically and was remitted for reconsideration. en-us Wed, 13 Feb 2002 00:00:00 +0530 Thu, 26 Dec 2013 10:57:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160876 Acid oil or inferior oil, being a residue or by-product of refined oil, was treated by the Madras High Court as retaining the commercial character of vegetable oil rather than becoming a distinct chemical commodity. On that basis, it was held taxable under section 3(2) of the Tamil Nadu General Sales Tax Act, 1959, and not under section 3(1). On penalty for purchase tax-related liability, the Court noted that the law was unsettled and the assessee had acted under a bona fide belief; the penalty was therefore not sustained mechanically and was remitted for reconsideration. Case-Laws VAT and Sales Tax Wed, 13 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160876