graphic art films were not raw materials or consumable stores, essential for the maintenance of the project material. Thereafter all the goods had arrived ... this heading permits all spare parts and other raw materials or consumable stores imported as a part of the contract subject
parts, other raw 40%"
materials (including semi-finished
materials), or consumable stores
imported, as a part of a contract
or contracts, registered in terms ... provided the
total value of such spare parts,
raw materials, and consumable
stores does not exceed 10% of the
value of the goods covered
venture to produce and examine the brokers from whom the consumable stores were purchased. Nor was any attempt made to prove the genuineness ... Authorities. The resultant position was that the persons from whom the consumable stores were stated to have been purchased remained non-existing entities, besides
profession or vocation but not including, (i) any stock-in-trade, consumable stores or raw materials held for the purposes of his business, profession ... Income-tax Act, 1922, and it would be found therefrom that consumable stores arc not included within the meaning of the term "capital asset
decide whether the expressions ‘raw material’ or
‘processing material’ or ‘consumable store’ would cover fuels, such as, naptha,
https://www.mhc.tn.gov.in/judis ... concluding that the fuels consumed by the industry to generate electricity would
constitute ‘raw material’, ‘processing material’ or ‘consumable stores’.
Following the judgment
spare parts other raw materials 40%
(including semi-finished materials) or
consumable stores imported, as a part
of a contract or contracts, registered
in terms ... provided
the total value of such spare parts,
raw materials, and consumable stores
does not exceed ten per cent value of
the goods covered
Broadway,
Chennai – 108.
3. The President,
Madras Postal Audit Co-operative,
Consumers Stores Ltd., Egmore,
Chennai – 600 008.
4. Mr.S.Dhanasekaran,
The President,
Madras ... Postal Audit Co-operative,
Consumers Stores Ltd., Egmore,
Chennai – 600 008. ... Respondents
1/4
https://www.mhc.tn.gov.in/judis
spare parts, other raw materials (including semi-finished material) or consumable stores imported, as a part of a contract or contracts, registered in terms ... provided the total value of such spare parts, raw materials, and consumable stores does not exceed 10% of the value of the goods covered
vocation but does not include (i) any stock-in-trade, consumable stores or raw materials held for the purposes of his business, profession or vocation
profession, but does not include -
(i) any stock-in-trade, consumable stores or raw materials held for the purposes of his business or professions
