2012 (2) TMI 606

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....Ramachandran Nair And Babu Mathew P. Joseph, JJ. For the Appellant : V. V. Asokan, K. I. Mayankutty Mather, R. Jaikrishna For the Respondent : Bobby John JUDGMENT Ramachandran Nair, J. Heard the counsel for the petitioner and also Senior Government Pleader for respondents. Petitioner is stated to be a Company under the control of Government of Tamil Nadu, though it is not seen state....

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....fy assessment on the stock transfer value as turnover. The department's case is that besides sales turnover the difference between the stock transfer value and sales turnover returned, should be assessed. However, none of the authorities has specifically considered the question how discount is disallowed which is an eligible deduction u/s 25(2) of the KVAT Act. 3. After hearing both the sid....