1975 (10) TMI 92 - HC - VAT and Sales Tax

Summary

The Kerala High Court considered whether the assessee could deduct Rs. 32,904.12 from the sale of his business as a whole for tax purposes. The Sales Tax Appellate Tribunal initially disallowed the deduction, but the High Court found that the business as a whole was indeed transferred to the buyer based on the agreement terms. The High Court allowed the tax revision case and set aside the Tribunal's order.