https://www.taxtmi.com/caselaws?id=50784 For purposes of Modvat credit, the discussion centres on whether goods moved for job work, rather than by outright sale, can still satisfy the statutory definition of sale under Section 2(h). Transfer of possession in the ordinary course of trade or business is essential, but it must also be supported by cash, deferred payment, or other valuable consideration. The analysis notes that the lower authorities treated continued ownership in the raw materials as decisive, without fully examining whether the transfer, despite no change in title, was nonetheless for valuable consideration. The matter was remanded for fresh adjudication in accordance with law. en-us Fri, 21 Sep 2001 00:00:00 +0530 Wed, 08 Sep 2010 15:39:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50784 For purposes of Modvat credit, the discussion centres on whether goods moved for job work, rather than by outright sale, can still satisfy the statutory definition of sale under Section 2(h). Transfer of possession in the ordinary course of trade or business is essential, but it must also be supported by cash, deferred payment, or other valuable consideration. The analysis notes that the lower authorities treated continued ownership in the raw materials as decisive, without fully examining whether the transfer, despite no change in title, was nonetheless for valuable consideration. The matter was remanded for fresh adjudication in accordance with law. Case-Laws Central Excise Fri, 21 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50784