https://www.taxtmi.com/caselaws?id=127166 Forward contracts without actual delivery were treated as agreements to sell, not completed sales, because property in goods had not passed. A deeming provision that attempted to treat such executory contracts as sales for tax purposes enlarged the statutory meaning of sale beyond the constitutional taxing entry and was therefore beyond legislative competence. On the facts, the impugned assessments on those contracts could not stand. The Court also held that writ jurisdiction was properly exercised despite statutory appeal and revision remedies, because the challenge raised a substantial constitutional issue and continued assessment proceedings would cause unnecessary multiplicity. en-us Wed, 27 Feb 1952 00:00:00 +0530 Wed, 27 Feb 2013 16:56:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127166 Forward contracts without actual delivery were treated as agreements to sell, not completed sales, because property in goods had not passed. A deeming provision that attempted to treat such executory contracts as sales for tax purposes enlarged the statutory meaning of sale beyond the constitutional taxing entry and was therefore beyond legislative competence. On the facts, the impugned assessments on those contracts could not stand. The Court also held that writ jurisdiction was properly exercised despite statutory appeal and revision remedies, because the challenge raised a substantial constitutional issue and continued assessment proceedings would cause unnecessary multiplicity. Case-Laws VAT and Sales Tax Wed, 27 Feb 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127166