The Hon'ble Sir Harilal Jekisundas Kania, Kt. Cr.1943;
Chief Justice of India 14 Aug. 1947-5 Nov. 1951; s. of
Jekisundas m. 1925, Kusum, d. of Sir Chunilal Mehta q.v;
one d. Educ B.A. Samaldas College, Bhavnagar; LL.B.
Government Law College, Bombay; passed the High Court
Advocate (O.S.) Examination 1915. Judge High Court, Bombay.
1933-46, acting Chief Justice in 1944 and 1945; Judge;
Federal Court 20 June 1946-13 Aug. 1947. Retired on
A television and a refrigerator were sold for Rs. 12,000
each. If the television was sold at a loss of 20% of the
cost and the refrigerator at a gain of 20% of the cost, then
the entire transaction resulted in
(a) No loss or gain
(b) Loss of rs. 1,000
(c) Gain of rs. 1,000
(d) Loss of Rs. 1,200
How does the consumer benefit with VAT?
(a) It removes tax on tax and thus reduces price-rise
(b) It reduces the cost of production
(c) Due to the abolition of the sales tax
(d) Due to the exemption of small business from the tax
within certain limits prescribed by the State