https://www.taxtmi.com/caselaws?id=57365 The Tribunal affirmed that there was no sales tax liability on the assessee totaling Rs. 67,50,872. It held that contingent liabilities are not deductible and rejected the argument that the bank guarantee should be considered part of the sale price. The decision was based on the Supreme Court's ruling that individual exporters were not liable for sales tax, striking down the requirement for deposits or guarantees. The appeal was dismissed, upholding the lower authorities' decision. en-us Tue, 15 Mar 1983 00:00:00 +0530 Thu, 09 Dec 2010 17:44:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57365 The Tribunal affirmed that there was no sales tax liability on the assessee totaling Rs. 67,50,872. It held that contingent liabilities are not deductible and rejected the argument that the bank guarantee should be considered part of the sale price. The decision was based on the Supreme Court's ruling that individual exporters were not liable for sales tax, striking down the requirement for deposits or guarantees. The appeal was dismissed, upholding the lower authorities' decision. Case-Laws Income Tax Tue, 15 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57365