1983 (1) TMI 247 - HC - VAT and Sales Tax

Summary

The High Court of Madras dismissed the tax cases involving the sale of silver coins made to the Sankara Mutt. The Tribunal held that the sale of coins was not exempt from tax as it involved selling finished goods, regardless of profit. The Tribunal also ruled that the coins were not considered specie, therefore taxed at 4% instead of 2%. The court agreed with the Tribunal's findings.