TMI Blog1985 (1) TMI 269X X X X Extracts X X X X X X X X Extracts X X X X ..... as a result of events which took place subsequent to 30th June, 1974? Held that:- Appeal dismissed. Since the purchases took place before 30th June, 1974 the assessee would, in our opinion, liable to be taxed at the rate prevailing at the time when the purchases were made and since the rate at that time was 3% of the sale price, the High Court was right in taking the view that the purchases ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on has become material since the rate of purchase tax was increased from 3% to 5% with effect from 1st July, 1974. Now it is not disputed in the present case that the purchases of goods effected by the assessee prior to 30th June, 1974 were last purchases within the State because the goods purchased which were in stock on 30th June, 1974 were subsequently sold by the assessee in the course of inte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay consume it himself or the goods may be destroyed, etc. He would be entitled to claim before the assessing authorities that the character of acquisition of the stock in hand was undetermined; in the light of subsequent events it may or may not become the last purchase inside the State". There can therefore be no doubt that the assessee in the present case became liable to pay tax on the purcha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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