1999 (5) TMI 590 - HC - VAT and Sales Tax

Summary

The High Court of Madhya Pradesh upheld the Board of Revenue's decision that mineral turpentine oil sold as a thinner should be taxed at 12% under the residuary entry instead of 16%. The penalty imposed on the dealer was also justified. The Court ruled that no referable question arose in the matter as it was already settled law. The reference was answered in the affirmative.