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V.P.ELHENCE, P.J.GORADIA
Oswal Agro Mills Ltd. – Appellant
Versus
Income-tax Officer – Respondent
Per V.P. Elhence, Judicial Member - The assessee is aggrieved of the order dated 5-2-1987 of the learned Commissioner of Income-tax (Appeals), New Delhi for the assessment year 1982-83.
2. The assessee which is a limited company derives its income from the production and sale of Rice Bran extraction and the manufacture of laundry soap. For the assessment year in question it also earned commission income as import agents for Stearine and Acid Oils. The method of accounting is mercantile and the year ended on 30-6-1981. The first ground relates to the claim of sales-tax liability amounting to Rs. 13,68,680. The basic facts need to be narrated in order to clarify the controversy. The assessee company is running two Solvent Extraction Units for the extraction of Rice Bran Oil. This rice bran oil is being sold in the course of inter-State trade and commerce to various parties situated outside the territory of Punjab Under the Central Sales-tax Act, edible oil is liable to sales-tax @ 1% Against ‘C’ form if sold during the course of inter-State trade and commerce and @ 4% if it is a non-edible oil. The assessee despatched rice bran oil to its buyers at Bombay, Calcutta, Delhi and G
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