https://www.taxtmi.com/caselaws?id=144099 The agreement was construed by reference to its real substance, not its labels, and the clauses requiring immediate payment, barring return of the foodgrains, fixing sales tax liability on the assessee, and allowing resale to the public at controlled rates were treated as consistent with a purchase arrangement. Restrictions on retail sale, account-keeping obligations, and the possibility of criminal breach of trust did not convert the transaction into agency. On that reading, the assessee became owner of the foodgrains, fell within the definition of dealer, and was liable to sales tax on turnover from sales to customers. en-us Fri, 03 Dec 1965 00:00:00 +0530 Fri, 19 Apr 2013 15:07:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=144099 The agreement was construed by reference to its real substance, not its labels, and the clauses requiring immediate payment, barring return of the foodgrains, fixing sales tax liability on the assessee, and allowing resale to the public at controlled rates were treated as consistent with a purchase arrangement. Restrictions on retail sale, account-keeping obligations, and the possibility of criminal breach of trust did not convert the transaction into agency. On that reading, the assessee became owner of the foodgrains, fell within the definition of dealer, and was liable to sales tax on turnover from sales to customers. Case-Laws VAT and Sales Tax Fri, 03 Dec 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=144099