https://www.taxtmi.com/caselaws?id=247569 A lease and import arrangement was treated as one composite transaction because the purchase order, bank correspondence, lease agreements, bill of lading and customs documents showed that the machinery was imported for the lessee under a pre-existing commercial understanding. The import could not be separated from the later lease documentation, as the two were inextricably linked in the same transaction. Applying the test that a sale is in the course of import only where there is an integral connection between the import and the transaction, the court concluded that the arrangement qualified for exemption from sales tax and the Revenue's revision failed. en-us Fri, 30 Sep 2011 00:00:00 +0530 Sat, 20 Sep 2014 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247569 A lease and import arrangement was treated as one composite transaction because the purchase order, bank correspondence, lease agreements, bill of lading and customs documents showed that the machinery was imported for the lessee under a pre-existing commercial understanding. The import could not be separated from the later lease documentation, as the two were inextricably linked in the same transaction. Applying the test that a sale is in the course of import only where there is an integral connection between the import and the transaction, the court concluded that the arrangement qualified for exemption from sales tax and the Revenue's revision failed. Case-Laws VAT and Sales Tax Fri, 30 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247569