https://www.taxtmi.com/caselaws?id=161582 Cotton transactions with sister concerns were assessed on their true legal character by examining the books of account, profit and loss account, declarations, and the substantial differences in quantity, variety and value between goods received and goods later returned. The mere receipt and return of cotton did not establish barter where the surrounding circumstances showed money value and a commercial purchase-and-sale arrangement. The taxing authority was entitled to disregard a colourable device if the evidence supported that conclusion. The transactions were treated as sales, and the assessments restoring turnover were upheld. en-us Thu, 01 Feb 2001 00:00:00 +0530 Sat, 01 Feb 2014 14:24:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161582 Cotton transactions with sister concerns were assessed on their true legal character by examining the books of account, profit and loss account, declarations, and the substantial differences in quantity, variety and value between goods received and goods later returned. The mere receipt and return of cotton did not establish barter where the surrounding circumstances showed money value and a commercial purchase-and-sale arrangement. The taxing authority was entitled to disregard a colourable device if the evidence supported that conclusion. The transactions were treated as sales, and the assessments restoring turnover were upheld. Case-Laws VAT and Sales Tax Thu, 01 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161582