B.N.Sapru, J. - (1.) The only question in this revision filed by the assessee is as to what extent the assessee is entitled to the benefit of concessional rate under Section 4-B of the Act on his purchases of oil-seeds.
(2.) The assessee's contention was that he should be given the benefit of reduced tax of rate at 13.83 percent of the total purchases of oil-seeds, at Rs. 1,14,14,712.83. The assessee has been given the benefit of concessional rate of tax only at 13.8 per cent of the net purchases worth Rs. 51,30,789.26 and on the remaining turnover he was taxed at the rate of 3 per cent.
(3.) The assessee admittedly holds a recognition certificate under Section 4-B(2) of the Act. He is consequently entitled to the benefit of Section 4-B(1)(a) of the Act. He would, therefore, be entitled to the benefit of Section 4-B(1)(a) of the Act on the net total purchases of oil-seeds made by the assessee which are covered by the recognition certificate granted under Section 4-B(1)(a) of the Act.;