2006 (8) TMI 535

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....hether theft of an article after purchase will entitle the assessee for exemption from payment of tax in respect of the commodity which is taxable at the point of last purchase in the State. The item in this case is rubber which is taxable at the point of last purchase in the State. The loss through theft is from respondent's godown after the item was purchased. Contention of the respondent is....

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....er, if it is an item taxable at last purchase point. Loss of goods in fire and in theft has the same consequence for the purpose of levy of tax, if the commodity is taxable at the point of last purchase. Even though counsel for the respondent pointed out that loss in fire is permanent and loss in theft is not so, we do not think that the argument is acceptable because if the lost goods are retriev....