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1968 (8) TMI 111 - SUPREME COURTWhether the respondent-company was liable to pay sales tax on an amount of Rs. 4,20,000 being the sale price of two arc furnaces which had been purchased in 1952 and sold in 1958? Held that:- Appeal dismissed. The High Court rightly came to the conclusion that the sale proceeds of the furnaces could not be included in the turnover of the assessee for the purpose of determining the liability of the assessee to sales tax.
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