( 1 ) THE assessee is a Private Limited Company carrying on business as manufacturer of cloth and was a registered dealer under the provisions of the Bombay Sales Tax Act 1953 On 13th December 1957 being the day appointed by the State Government in respect of cloth manufactured in mills or on power looms under sec. 2 (1) of the Bombay Sales Tax Laws (Special Exemptions) Act 1957 (hereinafter referred to as the Sales Tax Exemption Act) the assessee had stock of grey or unfinished cloth of the value of Rs. 2 13 676 The assessee converted this stock of grey or unfinished cloth into finished cloth by performing the process of bleaching dyeing and printing on it and sold such finished cloth in the market during the period 13th December 1957 to 31st March 1958. The assessee in its assessment to sales-tax for the assessment period 1st April 1957 to 31st March 1958 claimed that the sales of finished cloth effected by it as aforesaid were exempt from sales-tax by reason of sub-sec. (1) of sec. 4 of the Sales Tax Exemption Act inasmuch as finished cloth sold by it constituted scheduled goods within the meaning of that expression as defined in sec. 2 (7) of the Sales Tax Exe