https://www.taxtmi.com/caselaws?id=415613 Where a later circular or clarification bearing on the tax treatment of margin trading profit was not placed before the Tribunal, the High Court held that the proper course was remand for fresh consideration. The Tribunal's order was set aside so it could examine the circular, the parties' materials, and the dealer's factual explanation on whether such profit falls outside the concepts of sale and turnover under the Kerala Value Added Tax Act, 2003. The substantive question whether margin trading profit forms part of turnover was left open for decision by the Tribunal. en-us Fri, 12 Nov 2021 00:00:00 +0530 Fri, 10 Dec 2021 08:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415613 Where a later circular or clarification bearing on the tax treatment of margin trading profit was not placed before the Tribunal, the High Court held that the proper course was remand for fresh consideration. The Tribunal's order was set aside so it could examine the circular, the parties' materials, and the dealer's factual explanation on whether such profit falls outside the concepts of sale and turnover under the Kerala Value Added Tax Act, 2003. The substantive question whether margin trading profit forms part of turnover was left open for decision by the Tribunal. Case-Laws VAT and Sales Tax Fri, 12 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415613