https://www.taxtmi.com/caselaws?id=278940 The High Court ruled in favor of the assessee in a tax assessment case involving turnover calculation for stock transfer of Medicament within Uttar Pradesh. The Court held that turnover should be based on the actual selling price before tax, not the Maximum Retail Price (MRP) set by the manufacturer for uniform pricing. Dismissing the Tribunal's decision, the Court emphasized that selling price discrepancies justified using actual selling prices for tax assessment, concluding that the imposition of higher tax based on MRP was incorrect. The judgment favored the assessee over the revenue authority. en-us Fri, 16 Mar 2018 00:00:00 +0530 Sat, 16 Mar 2019 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278940 The High Court ruled in favor of the assessee in a tax assessment case involving turnover calculation for stock transfer of Medicament within Uttar Pradesh. The Court held that turnover should be based on the actual selling price before tax, not the Maximum Retail Price (MRP) set by the manufacturer for uniform pricing. Dismissing the Tribunal's decision, the Court emphasized that selling price discrepancies justified using actual selling prices for tax assessment, concluding that the imposition of higher tax based on MRP was incorrect. The judgment favored the assessee over the revenue authority. Case-Laws VAT and Sales Tax Fri, 16 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278940