Court Rules Respondent Lacks Jurisdiction to Assess Tax on Purchase Value Under TNVAT Section 3(4)(a)(ii.

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....Levy of tax on purchase value - TNVAT - Sales had been done by the petitioner to the tune of ₹ 47,05,257/-. In view of Section 3(4)(a)(ii) extracted supra, the respondent has no jurisdiction to assess the tax based on the purchase value - HC....