https://www.taxtmi.com/caselaws?id=144085 Transactions structured as hire-purchase were treated by the court as true hire-purchase arrangements, not mere financing, because the agreements placed the vehicles with the hirers, required instalments as hire, restricted ownership rights during the term, and left only an option to purchase on completion. When the hirers finished payment and exercised that option, the bailment ended and property passed, so the arrangement matured into a taxable sale. The dealings were also held not to be casual sales, since they formed a repeated business activity connected with motor vehicle finance. The sales tax assessment on the impugned transactions was therefore sustained. en-us Fri, 15 Oct 1965 00:00:00 +0530 Fri, 19 Apr 2013 12:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=144085 Transactions structured as hire-purchase were treated by the court as true hire-purchase arrangements, not mere financing, because the agreements placed the vehicles with the hirers, required instalments as hire, restricted ownership rights during the term, and left only an option to purchase on completion. When the hirers finished payment and exercised that option, the bailment ended and property passed, so the arrangement matured into a taxable sale. The dealings were also held not to be casual sales, since they formed a repeated business activity connected with motor vehicle finance. The sales tax assessment on the impugned transactions was therefore sustained. Case-Laws VAT and Sales Tax Fri, 15 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=144085