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HC allows the tax revision and restores the AO's assessment under Section 3B of the TNGST Act. The court finds that two separately incorporated companies (hereafter Company A and Company B), although sharing common directors, are distinct legal persons; materials purchased by Company A from other States and used in construction, then transferred to Company B, constitute a transfer of property in goods involved in execution of a works contract and are taxable on the value of goods used. The Appellate Assistant Commissioner and the Tribunal erred in treating the concerns as one and the same merely due to common directorship. The AO's levy under Section 3B is upheld and the revision is allowed.
HC allows the tax revision and restores the AO's assessment under Section 3B of the TNGST Act. The court finds that two separately incorporated companies (hereafter Company A and Company B), although sharing common directors, are distinct legal persons; materials purchased by Company A from other States and used in construction, then transferred to Company B, constitute a transfer of property in goods involved in execution of a works contract and are taxable on the value of goods used. The Appellate Assistant Commissioner and the Tribunal erred in treating the concerns as one and the same merely due to common directorship. The AO's levy under Section 3B is upheld and the revision is allowed.
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