1991 (8) TMI 314

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....nly to the turnover of Rs. 1,95,497.75 relating to the first sale of oil 666. The assessing authority taxed the turnover relating to oil 666 at 8 per cent single point treating the commodity to be covered under item 47 of the First Schedule. On appeal, the Appellate Assistant Commissioner held oil 666 to be taxable at 4 per cent multi-point and allowed the appeal. The Joint Commissioner proposed t....

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.... found that the Board's earlier clarification dated March 6, 1972, is relating to different oils and had no relevance to the facts of the case on hand. The Joint Commissioner rightly opined that the rate of tax applicable to each product has to be decided with reference to the facts of that product. The Joint Commissioner noticed that with regard to the correct rate of tax so far as oil 666 is con....

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....istant Commissioner clearly fell in error in treating oil 666 as taxable at 4 per cent multi-point without considering the physical and chemical properties of the oil and also as to how it is understood in common parlance and by the trade in general. Entry 47 of the First Schedule at the relevant time read "lubricating oils and greases" and from August 15, 1974, the rate of tax was 8 per cent at t....