Tribunal Confirms Freight Must Be Included in Sales Turnover; Tax Liability Based on Exclusion Justified.

Valuation - inclusion of freight in the sales turnover - the entry in the books of account appropriating the amount of freight towards expenses and not including it in the purchase price is found to be wrong, and on that basis, the liability of tax imposed would be justified - tribunal was justified in rejecting books of accounts. - HC .....

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