https://www.taxtmi.com/caselaws?id=159805 A refundable security deposit taken for LPG cylinders, regulators and related equipment did not constitute sale consideration under the Punjab General Sales Tax Act because the agreement kept ownership in the Corporation and gave the consumer or distributor no right to treat the equipment as owner. The deposit was only security, was below the cost of the cylinders, and did not itself transfer property in the goods. On the facts recorded, the assessments were also not based on the amended deeming provision relating to transfer of the right to use goods, so the impugned assessment orders could not be sustained on that basis. en-us Fri, 08 Jan 1999 00:00:00 +0530 Mon, 02 Dec 2013 14:32:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159805 A refundable security deposit taken for LPG cylinders, regulators and related equipment did not constitute sale consideration under the Punjab General Sales Tax Act because the agreement kept ownership in the Corporation and gave the consumer or distributor no right to treat the equipment as owner. The deposit was only security, was below the cost of the cylinders, and did not itself transfer property in the goods. On the facts recorded, the assessments were also not based on the amended deeming provision relating to transfer of the right to use goods, so the impugned assessment orders could not be sustained on that basis. Case-Laws VAT and Sales Tax Fri, 08 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159805