https://www.taxtmi.com/caselaws?id=102292 For the pre-amendment sales tax regime, trading activity counted as business only if carried on with a profit motive; volume, frequency, continuity and regularity alone were insufficient. The Revenue had to prove that element before fastening dealer liability, and on the material described it did not discharge that burden because the assessee consistently maintained a no profit-no loss basis and no adequate inquiry or finding on profit motive had been made. The assessments were therefore unsustainable and were set aside. en-us Thu, 29 Aug 1985 00:00:00 +0530 Sat, 19 Jul 2014 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102292 For the pre-amendment sales tax regime, trading activity counted as business only if carried on with a profit motive; volume, frequency, continuity and regularity alone were insufficient. The Revenue had to prove that element before fastening dealer liability, and on the material described it did not discharge that burden because the assessee consistently maintained a no profit-no loss basis and no adequate inquiry or finding on profit motive had been made. The assessments were therefore unsustainable and were set aside. Case-Laws VAT and Sales Tax Thu, 29 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102292