1954 (1) TMI 13

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..... the sum of Rs. 4,44,787-8-0. The assessee is a dealer in groundnuts among other things. He also owns a decorticating mill. Certain dealers entrusted to him groundnut for decortication and obtained advances on the goods deposited. On these advances the dealers had to pay interest. After decortication the goods were sold by the assessee on behalf of the dealers; and from and out of the amount realis .....

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..... by the Tribunal. The second point raised is under rule 18 of the Madras General Sales Tax (Turnover and Assessment) Rules, 1939. Under rule 18, sub- clause (2), every registered manufacturer of groundnut oil is entitled to deduction under clause (k) of sub-rule (1) of rule 5 of an amount equal to the value of the groundnut and/or kernel purchased and converted by him into oil and cake provided h .....

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..... ere was no power or authority to condone the delay in making the returns and therefore the deduction should not have been granted. It was also contended that it was a condition precedent for claiming the deduction that the return should be submitted before the 25th of every month and that if the assessee did not do so he lost the right. In view of the new amendment introduced, which relates to pro .....

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