https://www.taxtmi.com/caselaws?id=386880 For entry tax on goods brought into a local area by stock transfer, valuation must be made under the statutory definition in Section 2(h) by reference to the wholesale value of similar goods sold inside the local area at the relevant time. The assessee's actual sale value recorded in its books is not the correct benchmark for this computation. Because the assessment did not address the wholesale value of similar goods sold locally, the valuation adopted by the revenue was contrary to law and the matter required fresh determination on the proper basis. en-us Thu, 19 Sep 2019 00:00:00 +0530 Fri, 11 Oct 2019 11:07:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386880 For entry tax on goods brought into a local area by stock transfer, valuation must be made under the statutory definition in Section 2(h) by reference to the wholesale value of similar goods sold inside the local area at the relevant time. The assessee's actual sale value recorded in its books is not the correct benchmark for this computation. Because the assessment did not address the wholesale value of similar goods sold locally, the valuation adopted by the revenue was contrary to law and the matter required fresh determination on the proper basis. Case-Laws VAT and Sales Tax Thu, 19 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386880