https://www.taxtmi.com/caselaws?id=306041 The appeal was dismissed, upholding the High Court's judgment. The Court confirmed that pressed cotton falls within the definition of "cotton, ginned or unginned" under the Act. Rule 65, requiring a trading license, was deemed valid within the State Government's rule-making power. The argument that the transactions were forward contracts was rejected. The appellant was convicted for breaching Rule 65(1) and fined Rs. 25. en-us Tue, 15 Sep 1959 00:00:00 +0530 Fri, 06 Jan 2023 11:21:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306041 The appeal was dismissed, upholding the High Court's judgment. The Court confirmed that pressed cotton falls within the definition of "cotton, ginned or unginned" under the Act. Rule 65, requiring a trading license, was deemed valid within the State Government's rule-making power. The argument that the transactions were forward contracts was rejected. The appellant was convicted for breaching Rule 65(1) and fined Rs. 25. Case-Laws Indian Laws Tue, 15 Sep 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306041