https://www.taxtmi.com/caselaws?id=150434 A mere sale of the entire cloth stock, even with transfer of tenancy rights in the shop premises, does not by itself amount to transfer or succession of the business under section 17 of the Punjab General Sales Tax Act, 1948. Liability arises only where the ownership of the business as a going concern is entirely transferred and the transferee carries it on. In the absence of evidence of transfer of goodwill, furniture, account books, liabilities, employees, or other incidents of a running business, the transaction is not a business transfer. The sales tax authorities' contrary view was therefore erroneous. en-us Thu, 21 Oct 1971 00:00:00 +0530 Thu, 16 May 2013 17:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150434 A mere sale of the entire cloth stock, even with transfer of tenancy rights in the shop premises, does not by itself amount to transfer or succession of the business under section 17 of the Punjab General Sales Tax Act, 1948. Liability arises only where the ownership of the business as a going concern is entirely transferred and the transferee carries it on. In the absence of evidence of transfer of goodwill, furniture, account books, liabilities, employees, or other incidents of a running business, the transaction is not a business transfer. The sales tax authorities' contrary view was therefore erroneous. Case-Laws VAT and Sales Tax Thu, 21 Oct 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150434