https://www.taxtmi.com/caselaws?id=153156 Old gold ornaments are not bullion in their ordinary and popular sense; bullion denotes raw gold or silver in ingots or bars, not ornaments. Under the purchase-tax provision, liability arises where taxable goods are bought and are not resold in the same form and condition. Because the ornaments were purchased in an unusable state, then cleaned and improved before resale, the resale was in a different condition and the purchase remained taxable. A later notification treating old ornaments as bullion could not apply retrospectively to alter the assessment year in question. en-us Mon, 02 Nov 1981 00:00:00 +0530 Thu, 18 Jul 2013 17:15:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153156 Old gold ornaments are not bullion in their ordinary and popular sense; bullion denotes raw gold or silver in ingots or bars, not ornaments. Under the purchase-tax provision, liability arises where taxable goods are bought and are not resold in the same form and condition. Because the ornaments were purchased in an unusable state, then cleaned and improved before resale, the resale was in a different condition and the purchase remained taxable. A later notification treating old ornaments as bullion could not apply retrospectively to alter the assessment year in question. Case-Laws VAT and Sales Tax Mon, 02 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153156