TMI Blog1955 (2) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... n payment of such fee as may be prescribed in that behalf, license any person under this section who for an agreed commission or brokerage, buys or sells on behalf of known principals specified in his accounts in respect of each transaction and may exempt from the tax or taxes payable under sec- tion 3, such of his transactions as are carried out in accordance with the terms and conditions of his licence." Rule 12(3) runs as follows: "If a person who holds a licence under section 8 also deals other- wise than for an agreed commission or brokerage on behalf of known principals in the State, he shall keep separate accounts in respect of such transactions and of transactions covered by the licence." According to the learned Government Pleader, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and another relating to his commission business, though the day book that he keeps mixes up both the kinds of transac- tions. I do not read the rule as necessitating the maintenance of two separate account books, i.e., two separate day books and two separate ledgers." The facts of the present case are directly governed by that deci- sion. I follow that judgment and hold that the terms of rule 12(3) are not violated. I only wish to add, that on the facts of this case, the transactions are not mixed up though they are written in the same chitta. Moreover, there are also separate ledgers maintained in this case for the commission business. The next contention urged by the learned Government Pleader was that column 5 was not filled up in Exhi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s follows: "We purchased our own goods as agents for others. We showed it in independent turnover." The Subordinate judge held that in regard to the goods sold to Chodey Suryarao and Sri Ramakrishna Rice and Flour Mills he did not include it in the statement showing the commission agency transactions and that they were shown in the statement containing his individual transactions. With regard to the other fourteen entries spoken to by him in the cross-examination, no reference is made in both the judg- ments. If really they were of character, different from Chodey Surya- rao and Sri Ramakrishna Rice and Flour Mill's transactions, the Courts below would have dealt with them. I am inclined to accept the argu- ment of the learned advocate fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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