https://www.taxtmi.com/caselaws?id=145227 Bullion exchanged for ready-made gold ornaments was treated as an exchange or barter, not a sale, under section 2(h) of the U.P. Sales Tax Act. The Court held that "other valuable consideration" must be read ejusdem generis with cash or deferred payment and does not extend to barter pure and simple. It further noted that the concept of sale under the Sale of Goods Act was not enlarged merely because bullion formed stock-in-trade and was used in manufacturing and exchange. The transaction was therefore outside the sales tax net. en-us Tue, 06 Sep 1966 00:00:00 +0530 Tue, 23 Apr 2013 14:55:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=145227 Bullion exchanged for ready-made gold ornaments was treated as an exchange or barter, not a sale, under section 2(h) of the U.P. Sales Tax Act. The Court held that "other valuable consideration" must be read ejusdem generis with cash or deferred payment and does not extend to barter pure and simple. It further noted that the concept of sale under the Sale of Goods Act was not enlarged merely because bullion formed stock-in-trade and was used in manufacturing and exchange. The transaction was therefore outside the sales tax net. Case-Laws VAT and Sales Tax Tue, 06 Sep 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=145227