https://www.taxtmi.com/caselaws?id=159105 Exchange of old gold for new ornaments with labour charges was treated as barter, not sale, because a sale requires transfer of property for money consideration and the phrase "other valuable consideration" was read as referring to monetary equivalents such as cash or deferred payment. On that basis, the transaction did not fall within the State sales tax definition of sale. As there was no underlying sale and no proved contractual movement of goods from one State to another, it also did not satisfy the ingredients of an inter-State sale under the Central Sales Tax framework. The assessee therefore succeeded and the Revenue's tax treatment failed. en-us Mon, 06 Apr 1998 00:00:00 +0530 Fri, 15 Nov 2013 16:42:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159105 Exchange of old gold for new ornaments with labour charges was treated as barter, not sale, because a sale requires transfer of property for money consideration and the phrase "other valuable consideration" was read as referring to monetary equivalents such as cash or deferred payment. On that basis, the transaction did not fall within the State sales tax definition of sale. As there was no underlying sale and no proved contractual movement of goods from one State to another, it also did not satisfy the ingredients of an inter-State sale under the Central Sales Tax framework. The assessee therefore succeeded and the Revenue's tax treatment failed. Case-Laws VAT and Sales Tax Mon, 06 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159105