https://www.taxtmi.com/caselaws?id=100114 Hire-purchase documents must be construed as a whole and by their substance, not merely by their form. Where the financier was in the business of financing purchases, the vehicles remained registered in the customer's name, the customer held and insured them as owner, and the agreement's seizure and transfer clauses operated only as security for repayment, the arrangement was treated as a loan security rather than a sale of goods. On that analysis, no sales tax was exigible because there was no real transfer of title under a genuine sale transaction. en-us Tue, 30 Nov 1965 00:00:00 +0530 Wed, 25 Nov 2015 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100114 Hire-purchase documents must be construed as a whole and by their substance, not merely by their form. Where the financier was in the business of financing purchases, the vehicles remained registered in the customer's name, the customer held and insured them as owner, and the agreement's seizure and transfer clauses operated only as security for repayment, the arrangement was treated as a loan security rather than a sale of goods. On that analysis, no sales tax was exigible because there was no real transfer of title under a genuine sale transaction. Case-Laws VAT and Sales Tax Tue, 30 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100114