https://www.taxtmi.com/caselaws?id=164425 Old gold ornaments contributed by partners as capital and entered into the firm's trading stock were held taxable as a purchase under section 5A of the Kerala General Sales Tax Act, 1963. Although the transfer by the partners to the firm was not itself a sale in the course of business and therefore did not attract tax under section 5(1), the firm's receipt of the goods as stock-in-trade and its commercial dealing with them, including remaking and sale of new ornaments, brought the transaction within purchase tax. The assessment under section 5A was therefore rightly sustained. en-us Fri, 29 Sep 2006 00:00:00 +0530 Thu, 24 Apr 2014 10:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164425 Old gold ornaments contributed by partners as capital and entered into the firm's trading stock were held taxable as a purchase under section 5A of the Kerala General Sales Tax Act, 1963. Although the transfer by the partners to the firm was not itself a sale in the course of business and therefore did not attract tax under section 5(1), the firm's receipt of the goods as stock-in-trade and its commercial dealing with them, including remaking and sale of new ornaments, brought the transaction within purchase tax. The assessment under section 5A was therefore rightly sustained. Case-Laws VAT and Sales Tax Fri, 29 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164425