https://www.taxtmi.com/caselaws?id=157876 An agent who also trades on his own account may create a taxable sale when he appropriates the principal's goods to himself for a determinable price. The analysis states that sale under section 2(28) of the Bombay Sales Tax Act, 1959 requires transfer of goods for consideration, and that title passes when the agent makes debit and credit entries at market price and treats the goods as purchaser in his independent capacity. The same person acting in dual legal capacities does not prevent a sale where consideration and transfer of property are present, so the transaction falls within the statutory definition of sale. en-us Tue, 10 Jan 1995 00:00:00 +0530 Fri, 11 Oct 2013 16:45:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157876 An agent who also trades on his own account may create a taxable sale when he appropriates the principal's goods to himself for a determinable price. The analysis states that sale under section 2(28) of the Bombay Sales Tax Act, 1959 requires transfer of goods for consideration, and that title passes when the agent makes debit and credit entries at market price and treats the goods as purchaser in his independent capacity. The same person acting in dual legal capacities does not prevent a sale where consideration and transfer of property are present, so the transaction falls within the statutory definition of sale. Case-Laws VAT and Sales Tax Tue, 10 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157876