https://www.taxtmi.com/caselaws?id=149872 Contemporaneous debit entries for the exact purchase amount, made on the same day as the purchases and supported by separate commission accounting, were treated as evidence of an agency arrangement rather than a fresh sale; the entries themselves did not create a taxable event in the assessee's hands. By contrast, the assessee's later disposal of the goods as dealer constituted a sale transaction falling within the taxing provision, and the subsequent sales were taxable in his hands. The reference was therefore answered on a mixed basis: the initial debit entries were not taxable, while the later sales were taxable. en-us Fri, 09 Jul 1971 00:00:00 +0530 Sat, 27 Jul 2013 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=149872 Contemporaneous debit entries for the exact purchase amount, made on the same day as the purchases and supported by separate commission accounting, were treated as evidence of an agency arrangement rather than a fresh sale; the entries themselves did not create a taxable event in the assessee's hands. By contrast, the assessee's later disposal of the goods as dealer constituted a sale transaction falling within the taxing provision, and the subsequent sales were taxable in his hands. The reference was therefore answered on a mixed basis: the initial debit entries were not taxable, while the later sales were taxable. Case-Laws VAT and Sales Tax Fri, 09 Jul 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=149872