https://www.taxtmi.com/caselaws?id=127547 Exemption under Rule 5(1)(h) of the Turnover and Assessment Rules was available only on a sale of the business as a whole, not on a mere disposal of stock-in-trade and some assets. Where the seller continued to carry on business and retained business assets, the transaction did not satisfy that requirement. On the materials considered by the assessing authorities and the Tribunal, the sale was not of the business as a whole, and the exemption claim therefore failed. en-us Thu, 05 Apr 1956 00:00:00 +0530 Tue, 12 Mar 2013 10:54:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127547 Exemption under Rule 5(1)(h) of the Turnover and Assessment Rules was available only on a sale of the business as a whole, not on a mere disposal of stock-in-trade and some assets. Where the seller continued to carry on business and retained business assets, the transaction did not satisfy that requirement. On the materials considered by the assessing authorities and the Tribunal, the sale was not of the business as a whole, and the exemption claim therefore failed. Case-Laws VAT and Sales Tax Thu, 05 Apr 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127547