https://www.taxtmi.com/caselaws?id=157693 In hire-purchase transactions, a composite instalment price fixed under the agreement was treated as the taxable sale consideration, because the assessee failed to show any separable deduction for interest, service charges, or depreciation. The court also rejected exemption on the footing of sales in the course of import, since the goods were imported under the assessee's own import licence and there was no privity of contract with the foreign seller. The assessments were upheld for the relevant years, while the later years covered by the notification dated 10 October 1974 were remitted for fresh computation under that notification. en-us Wed, 31 Jul 1991 00:00:00 +0530 Wed, 09 Oct 2013 16:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157693 In hire-purchase transactions, a composite instalment price fixed under the agreement was treated as the taxable sale consideration, because the assessee failed to show any separable deduction for interest, service charges, or depreciation. The court also rejected exemption on the footing of sales in the course of import, since the goods were imported under the assessee's own import licence and there was no privity of contract with the foreign seller. The assessments were upheld for the relevant years, while the later years covered by the notification dated 10 October 1974 were remitted for fresh computation under that notification. Case-Laws VAT and Sales Tax Wed, 31 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157693