https://www.taxtmi.com/caselaws?id=348551 The Supreme Court held that Section 17 of the Karnataka Value Added Tax (KVAT) Act applies to the sale of de-oiled cake, entitling the assessee to only a partial rebate of input tax. The Court emphasized the literal interpretation of taxing statutes and the proper application of Rule 131 of the KVAT Rules. The High Court's departure from literal construction was criticized, and the Supreme Court set aside its judgment, highlighting that de-oiled cake, being a marketable commodity, triggers the application of Section 17 regardless of its status as a by-product. en-us Fri, 22 Sep 2017 00:00:00 +0530 Fri, 06 Jan 2023 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348551 The Supreme Court held that Section 17 of the Karnataka Value Added Tax (KVAT) Act applies to the sale of de-oiled cake, entitling the assessee to only a partial rebate of input tax. The Court emphasized the literal interpretation of taxing statutes and the proper application of Rule 131 of the KVAT Rules. The High Court's departure from literal construction was criticized, and the Supreme Court set aside its judgment, highlighting that de-oiled cake, being a marketable commodity, triggers the application of Section 17 regardless of its status as a by-product. Case-Laws VAT and Sales Tax Fri, 22 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348551