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TMI Blog2012 (2) TMI 606X X X X Extracts X X X X X X X X Extracts X X X X ..... Mathew P. Joseph, JJ. For the Appellant : V. V. Asokan, K. I. Mayankutty Mather, R. Jaikrishna For the Respondent : Bobby John JUDGMENT Ramachandran Nair, J. Heard the counsel for the petitioner and also Senior Government Pleader for respondents. Petitioner is stated to be a Company under the control of Government of Tamil Nadu, though it is not seen stated so in the letter head or in the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lue as turnover. The department's case is that besides sales turnover the difference between the stock transfer value and sales turnover returned, should be assessed. However, none of the authorities has specifically considered the question how discount is disallowed which is an eligible deduction u/s 25(2) of the KVAT Act. 3. After hearing both the sides and after going through the orders, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by remanding the matter to the Assessing Officer to verify the invoices and if required to conduct enquiry as to whether collections under any other head is made by the dealer. The petitioner should be given an opportunity to explain the basis of showing higher value on stock transfer than the realizable market value for the goods. (4) There will also be a direction to the Assessing officer to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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