2006 (8) TMI 535

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..... tax in respect of the commodity which is taxable at the point of last purchase in the State. The item in this case is rubber which is taxable at the point of last purchase in the State. The loss through theft is from respondent's godown after the item was purchased. Contention of the respondent is that the item has not acquired the quality of last purchase, as it would have been sold again, ha .....

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..... me consequence for the purpose of levy of tax, if the commodity is taxable at the point of last purchase. Even though counsel for the respondent pointed out that loss in fire is permanent and loss in theft is not so, we do not think that the argument is acceptable because if the lost goods are retrieved, there is no need for the assessee to pay another tax on the same commodity and it will be poss .....

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