1986 (2) TMI 313 - HC - VAT and Sales Tax

Summary

The High Court of Bombay considered whether a book entry of Rs. 82,324, representing 50% of the closing balance of tin deposits, constitutes 'sale price'. The Court ruled in favor of the assessee, citing precedent from Britannia Biscuit Co. Ltd. v. State of Maharashtra [1983] 53 STC 179. The question was answered in the negative.