Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsPower of Assessor to estimate sale price
| 16. Where any person who carries on the business of a manufacturer of any article sells such article for the purposes of distribution at a price which, in the opinion of the Assessor, reduces or would reduce the turnover tax payable by him, then for the purposes of this Act, such article shall be deemed to have been sold at a price which in the opinion of the Assessor, it would have fetched in an open market on the date of such sale, and the turnover of such person from such business shall be computed accordingly. |