https://www.taxtmi.com/caselaws?id=99463 The legal character of the 4 June 1942 agreement was determined from its covenants and surrounding circumstances, not the parties' label. The Cement Marketing Company was made the sole purchaser and sole seller of cement, fixed sale prices, contracted in its own name, appointed agents and stockists, and controlled sales terms, while manufacturers could deliver only under its orders. The profit-sharing clause did not create principal-and-agent relations because it did not operate on individual sales or impose loss-sharing liability. The arrangement was therefore one of buyer and seller, and cement supplied by the assessee to the Marketing Company constituted a sale included in taxable turnover under the Bihar Sales Tax Act, 1944. en-us Tue, 18 Jul 1961 00:00:00 +0530 Tue, 24 Sep 2013 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99463 The legal character of the 4 June 1942 agreement was determined from its covenants and surrounding circumstances, not the parties' label. The Cement Marketing Company was made the sole purchaser and sole seller of cement, fixed sale prices, contracted in its own name, appointed agents and stockists, and controlled sales terms, while manufacturers could deliver only under its orders. The profit-sharing clause did not create principal-and-agent relations because it did not operate on individual sales or impose loss-sharing liability. The arrangement was therefore one of buyer and seller, and cement supplied by the assessee to the Marketing Company constituted a sale included in taxable turnover under the Bihar Sales Tax Act, 1944. Case-Laws VAT and Sales Tax Tue, 18 Jul 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99463