https://www.taxtmi.com/caselaws?id=155262 Sale proceeds from an old discarded oil engine had to be tested under the amended definitions of "business" and "dealer" in the Kerala General Sales Tax Act, because the relevant assessment year was governed by Act 22 of 1974. The Tribunal erred by applying the pre-amendment law and by treating the discarded machinery as a capital asset outside taxable turnover. The Kerala High Court held that the amended provisions and the relevant precedent had to be applied, set aside the Tribunal's view, and remitted the matter for fresh decision on the correct statutory footing. en-us Thu, 09 Jul 1987 00:00:00 +0530 Mon, 02 Sep 2013 17:31:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155262 Sale proceeds from an old discarded oil engine had to be tested under the amended definitions of "business" and "dealer" in the Kerala General Sales Tax Act, because the relevant assessment year was governed by Act 22 of 1974. The Tribunal erred by applying the pre-amendment law and by treating the discarded machinery as a capital asset outside taxable turnover. The Kerala High Court held that the amended provisions and the relevant precedent had to be applied, set aside the Tribunal's view, and remitted the matter for fresh decision on the correct statutory footing. Case-Laws VAT and Sales Tax Thu, 09 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155262