https://www.taxtmi.com/caselaws?id=161300 The court ruled that the bank's acquisition of Exim scrips constituted surrender, not purchases, exempting it from tax liability under section 4(6)(iii) of the Bengal Finance (Sales Tax) Act, 1941. The Tribunal's decision was overturned, and the bank was absolved from paying purchase tax on the Exim scrips. The writ petition was granted, an injunction was issued against the respondents, and the bank was released from the interim order without costs. en-us Mon, 16 Dec 2002 00:00:00 +0530 Mon, 13 Jan 2014 18:29:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161300 The court ruled that the bank's acquisition of Exim scrips constituted surrender, not purchases, exempting it from tax liability under section 4(6)(iii) of the Bengal Finance (Sales Tax) Act, 1941. The Tribunal's decision was overturned, and the bank was absolved from paying purchase tax on the Exim scrips. The writ petition was granted, an injunction was issued against the respondents, and the bank was released from the interim order without costs. Case-Laws VAT and Sales Tax Mon, 16 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161300