1998 (10) TMI 515

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..... 93. The Revenue is the petitioner. The matter relates to turnover of Rs. 1,66,90,154 representing inventory carrying cost shown in the profit and loss account of the appellant which was brought within the tax net by the taxing authority treating it as turnover. On appeal, the Appellate Deputy Commissioner dismissed the appeal. On further appeal to the Tribunal, the Tribunal held that there was nex .....

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..... n 2(s) of the A.P. General Sales Tax Act, 1957, especially when the assessment order itself showed that the transactions were covered by bills as required by the statutory provisions and no amount had been paid on behalf of the purchaser nor any amount collected by the dealer in excess of the price mentioned in the bills. Following the above decision, we dismiss the tax revision case. No costs. P .....

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