1954 (3) TMI 49

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.... the Appellate Tribunal, and they have come up for admis- sion. The assessees are registered manufacturers of groundnut oil. They purchased groundnuts and extracted oil from them but sold the oil out- side the State, i.e., in Bombay. They were taxed on the turnover of the purchase price. They now claim that, as the oil was sold outside the State, and as that sale is exempted from taxation under A....

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....cified in that rule, shall be deducted for ascertaining the net turnover on which the assessment is levied. That is clear from the opening words of rule 5. The object, therefore, of rule 5 is to arrive at the taxable net turnover. To determine the net turnover, certain deduc- tions are allowed under that rule, and sub-rule (k) of rule 5(1) relates to the groundnuts and groundnut oil. Rule 18(2) pr....