https://www.taxtmi.com/caselaws?id=161804 Rent charged on delayed return of gas cylinders was held to form part of taxable turnover under the Assam General Sales Tax Act, 1993, because the contract did not confine the right to use the cylinders to a fixed 15-day period. The Court found that ownership remained with the manufacturer, but the right to use the cylinders continued for an indefinite duration subject to payment as stipulated in the agreement. On that construction, the rent was not a mere penal recovery and was exigible to sales tax; the reassessment challenge was rejected. en-us Thu, 19 Jun 2003 00:00:00 +0530 Thu, 06 Feb 2014 17:37:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161804 Rent charged on delayed return of gas cylinders was held to form part of taxable turnover under the Assam General Sales Tax Act, 1993, because the contract did not confine the right to use the cylinders to a fixed 15-day period. The Court found that ownership remained with the manufacturer, but the right to use the cylinders continued for an indefinite duration subject to payment as stipulated in the agreement. On that construction, the rent was not a mere penal recovery and was exigible to sales tax; the reassessment challenge was rejected. Case-Laws VAT and Sales Tax Thu, 19 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161804