https://www.taxtmi.com/caselaws?id=164426 The court held that the acceptance of old gold ornaments as a deposit constitutes a purchase of old jewelry by the petitioner, attracting liability for purchase tax. Additionally, the return of the deposit in the form of new gold ornaments from the stock-in-trade is considered a sale, subject to tax. The court dismissed the revision, affirming the liability of the petitioner for both purchase and sale taxes. en-us Fri, 16 Oct 2009 00:00:00 +0530 Thu, 24 Apr 2014 10:42:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164426 The court held that the acceptance of old gold ornaments as a deposit constitutes a purchase of old jewelry by the petitioner, attracting liability for purchase tax. Additionally, the return of the deposit in the form of new gold ornaments from the stock-in-trade is considered a sale, subject to tax. The court dismissed the revision, affirming the liability of the petitioner for both purchase and sale taxes. Case-Laws VAT and Sales Tax Fri, 16 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164426