https://www.taxtmi.com/caselaws?id=263322 The court held that the petitioner-bank is considered a "dealer" under the Orissa Value Added Tax Act and is liable to pay value added tax on the sale of pledged assets for loan recovery. The court determined that the sale of pledged goods is an integral part of the banking business, falling within the definition of "dealer" under the Act. The court emphasized that such sales are taxable transactions under the Act, disposing of the petition without expressing a view on the assessment's merits, which may be addressed in a suitable forum. en-us Mon, 03 Mar 2014 00:00:00 +0530 Mon, 31 Aug 2015 09:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263322 The court held that the petitioner-bank is considered a "dealer" under the Orissa Value Added Tax Act and is liable to pay value added tax on the sale of pledged assets for loan recovery. The court determined that the sale of pledged goods is an integral part of the banking business, falling within the definition of "dealer" under the Act. The court emphasized that such sales are taxable transactions under the Act, disposing of the petition without expressing a view on the assessment's merits, which may be addressed in a suitable forum. Case-Laws VAT and Sales Tax Mon, 03 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263322