https://www.taxtmi.com/caselaws?id=269736 A bank that repossesses hypothecated vehicles under borrower authorisation and sells them to recover outstanding dues is treated as carrying on a sale within the Delhi Sales Tax Act, 1975. The bank also falls within the inclusive definition of dealer because it sells goods under authority derived from the borrower, and the recovery of secured assets forms part of business for the Act's purposes. Such disposals are incidental or ancillary to the bank's lending and recovery functions, not a separate commercial activity. The Tribunal's view that the repossessed-vehicle sales were taxable business transactions was upheld. en-us Mon, 14 Dec 2015 00:00:00 +0530 Wed, 22 Jun 2016 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269736 A bank that repossesses hypothecated vehicles under borrower authorisation and sells them to recover outstanding dues is treated as carrying on a sale within the Delhi Sales Tax Act, 1975. The bank also falls within the inclusive definition of dealer because it sells goods under authority derived from the borrower, and the recovery of secured assets forms part of business for the Act's purposes. Such disposals are incidental or ancillary to the bank's lending and recovery functions, not a separate commercial activity. The Tribunal's view that the repossessed-vehicle sales were taxable business transactions was upheld. Case-Laws VAT and Sales Tax Mon, 14 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269736