https://www.taxtmi.com/caselaws?id=144174 Transfer of stock-in-trade to a partnership as capital contribution was not treated as a sale in the course of trade or business, so its value could not be included in taxable turnover under the Kerala General Sales Tax Act. The court reasoned that turnover is confined to amounts arising from sales as statutorily defined, and a capital contribution to a partnership does not answer that description. It also held that gingerly seeds and mustard seeds fall within the statutory definition of oil-seeds under the Central Sales Tax Act, so the applicable tax treatment for oil-seeds applied, including the ceiling on first-sale taxation where relevant. en-us Fri, 17 Mar 1967 00:00:00 +0530 Sat, 20 Apr 2013 16:38:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=144174 Transfer of stock-in-trade to a partnership as capital contribution was not treated as a sale in the course of trade or business, so its value could not be included in taxable turnover under the Kerala General Sales Tax Act. The court reasoned that turnover is confined to amounts arising from sales as statutorily defined, and a capital contribution to a partnership does not answer that description. It also held that gingerly seeds and mustard seeds fall within the statutory definition of oil-seeds under the Central Sales Tax Act, so the applicable tax treatment for oil-seeds applied, including the ceiling on first-sale taxation where relevant. Case-Laws VAT and Sales Tax Fri, 17 Mar 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=144174