https://www.taxtmi.com/caselaws?id=161074 A bank selling pledged gold ornaments to realise secured dues does not carry on the business of buying or selling goods within the meaning of the Andhra Pradesh General Sales Tax Act, 1957. The statutory concept of "dealer" depends on business activity, and banking law permits sale of goods only as an incident of enforcing security, not as an independent trading venture. Because the sale of pledged ornaments occurs in the course of banking activity to recover loans, it is not a sale in the course of trade or business for sales tax purposes. The notices seeking sales tax on such sale proceeds were therefore liable to be quashed. en-us Fri, 08 Jun 2001 00:00:00 +0530 Tue, 31 Dec 2013 15:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161074 A bank selling pledged gold ornaments to realise secured dues does not carry on the business of buying or selling goods within the meaning of the Andhra Pradesh General Sales Tax Act, 1957. The statutory concept of "dealer" depends on business activity, and banking law permits sale of goods only as an incident of enforcing security, not as an independent trading venture. Because the sale of pledged ornaments occurs in the course of banking activity to recover loans, it is not a sale in the course of trade or business for sales tax purposes. The notices seeking sales tax on such sale proceeds were therefore liable to be quashed. Case-Laws VAT and Sales Tax Fri, 08 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161074