https://www.taxtmi.com/caselaws?id=161213 The High Court dismissed the revision petition, ruling against the assessee's claim for exemption under the notification for coir yarn purchases made during the year 1983-84. The Court emphasized the strict interpretation of exemptions and clarified that purchases deemed part of the total turnover for the subsequent year were taxable in that year, as per the explanation to section 2(xxvi) of the Kerala General Sales Tax Act, 1963. The judgment highlighted the purpose of the provision in ensuring proper tax accounting for goods until they acquire last purchase status. en-us Thu, 02 Jul 1998 00:00:00 +0530 Thu, 09 Jan 2014 17:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161213 The High Court dismissed the revision petition, ruling against the assessee's claim for exemption under the notification for coir yarn purchases made during the year 1983-84. The Court emphasized the strict interpretation of exemptions and clarified that purchases deemed part of the total turnover for the subsequent year were taxable in that year, as per the explanation to section 2(xxvi) of the Kerala General Sales Tax Act, 1963. The judgment highlighted the purpose of the provision in ensuring proper tax accounting for goods until they acquire last purchase status. Case-Laws VAT and Sales Tax Thu, 02 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161213