https://www.taxtmi.com/caselaws?id=335777 Transfer of an interest in jointly owned aircraft under the Tamil Nadu Value Added Tax Act, 2006 required examination of the joint venture agreement, memorandum of agreement and surrounding documents to determine whether the transaction was a taxable sale or only a relinquishment of a share in the venture. An assessment that adopted the enforcement proposal verbatim, without independent consideration of the objections and documents, was found unsustainable on that footing. The finding characterising the transaction as a sale was set aside, and the assessment on that head was remanded for fresh consideration in accordance with law. en-us Wed, 09 Nov 2016 00:00:00 +0530 Fri, 09 Dec 2016 11:32:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335777 Transfer of an interest in jointly owned aircraft under the Tamil Nadu Value Added Tax Act, 2006 required examination of the joint venture agreement, memorandum of agreement and surrounding documents to determine whether the transaction was a taxable sale or only a relinquishment of a share in the venture. An assessment that adopted the enforcement proposal verbatim, without independent consideration of the objections and documents, was found unsustainable on that footing. The finding characterising the transaction as a sale was set aside, and the assessment on that head was remanded for fresh consideration in accordance with law. Case-Laws VAT and Sales Tax Wed, 09 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335777