Stock transfer proof requires F-Forms; indemnity bonds and late explanations do not defeat sale treatment.

Production of F-Forms is mandatory to establish stock transfer under section 6A of the Central Sales Tax Act, 1956; if the declaration is not furnished, the movement may be treated as a sale. Rule 12(2) of the Central Sales Tax (Registration and Turnover) Rules, 1957 does not permit an indemnity bond to indefinitely defer assessment, and a belated complaint about missing forms does not replace contemporaneous proof. On the facts noted, the absence of duplicate forms or supporting material before the assessing authority meant the disputed turnover was assessed as local sales.

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Issues: Whether the assessee was entitled to claim stock transfer treatment in the absence of F-Forms and rely on an indemnity bond or later complaint to avoid assessment of the disputed turnover as local sales.

Analysis: Section 6A of the Central Sales Tax Act, 1956 makes production of the declaration form mandatory to evidence stock transfer, and failure to furnish it results in the movement being deemed a sale. Rule 12(2) of the Central Sales Tax (Registration and Turnover) Rules, 1957 did not assist the assessee, because the filing of an indemnity bond could not indefinitely suspend assessment proceedings. The assessee had not produced duplicate forms or contemporaneous supporting material before the assessing authority, and the complaint regarding loss of forms was made only years later. The assessment was also completed after the assessee had consented to the fast track assessment process.

Conclusion: The claim for stock transfer benefit without F-Forms was rejected and the assessment treating the disputed turnover as taxable local sales was upheld in favour of the Revenue.

Final Conclusion: No substantial question of law arose, and the revision was dismissed with costs.

Ratio Decidendi: Where the statutory declaration required to prove stock transfer is not furnished, the turnover may be treated as a sale, and an indemnity bond or belated explanation does not displace that consequence absent contemporaneous supporting proof.

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