https://www.taxtmi.com/caselaws?id=152571 Sales of unutilised excess positive film retained after processing customers' films were not treated as business sales where the assessee had not acquired the film for resale, had not intended to trade in that commodity, and the limited, occasional transactions lacked the volume, frequency, continuity and profit motive needed to establish a trading business. Mere retention of leftover material to meet wastage and processing contingencies did not convert it into trading stock. The sale was therefore characterised as a casual sale outside the assessee's business and was not includible in taxable turnover. en-us Tue, 19 Dec 1978 00:00:00 +0530 Sat, 06 Jul 2013 16:30:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152571 Sales of unutilised excess positive film retained after processing customers' films were not treated as business sales where the assessee had not acquired the film for resale, had not intended to trade in that commodity, and the limited, occasional transactions lacked the volume, frequency, continuity and profit motive needed to establish a trading business. Mere retention of leftover material to meet wastage and processing contingencies did not convert it into trading stock. The sale was therefore characterised as a casual sale outside the assessee's business and was not includible in taxable turnover. Case-Laws VAT and Sales Tax Tue, 19 Dec 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152571