Where a dealer proves to the satisfaction of the assessing authority-
(i) that he has been assessed to tax under the General Sales Tax Act, 1125 ( Act XI of 1125 ) or under this Act, as the case may be, m respect of the turnover of the goods in his possession on the last day of the financial year ending on the 31st day of March, 1960, or on the last day of any subsequent financial year, which' is taxable only at the point of last purchase m the State ;
(ti) that he has paid the tax so assessed ; and
(tii) that-
(a) he has sold such goods to a dealer in the State who is liable to tax under section 3 of the General Sales Tax Act, 1125 or under sec tion 5 of this Act, as the case may be, in respect of such goods, before the expiry of the subsequent financial year, or
(b) 111 the case of co1r or aloe yarn such goods were used by him in the manufacture within the State of coir products or aloe yarn products, as the case may be, in the subsequent year, he shall be en titled to the refund of th~. tax paid by h1m or to its ad just ment in such manner and subject to such conditions as may be prescribed : ·
Provided that the provisiOns of this section shall apply to the refund of the tax paid on the turnover' relatmg to the purchase of aloe yarn used in the manufactme of aloe yarn products under sub-clause (b) of clause (m) only where the purchase took place in the year 1961-62 or any subsequent year.
CHAPTER VIII Offences a~d penalties