1998 (10) TMI 515

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....3. The Revenue is the petitioner. The matter relates to turnover of Rs. 1,66,90,154 representing inventory carrying cost shown in the profit and loss account of the appellant which was brought within the tax net by the taxing authority treating it as turnover. On appeal, the Appellate Deputy Commissioner dismissed the appeal. On further appeal to the Tribunal, the Tribunal held that there was nexu....