1990 (8) TMI 351

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....s. Unfortunately he was unsuccessful in the business which ran into losses. For the purpose of the business the assessee had taken loan from the Maharashtra State Financial Corporation. The said creditor filed a suit for recovery of the loan given to the assessee for the business. Decree was passed and in execution of the decree, old machinery, like paper cutting machine, one stitching machine, fi....

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....High Court under section 61 of the Bombay Sales Tax Act, 1959 ("the Act"): (1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in upholding the order of the first appellate authority, namely, that the disposal of machinery was in the course of business as being directly related to the business of manufacture of exercise-books by the applicant? (....

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....ibunal was justified in holding that the sale of machinery was as understood under the Sale of Goods Act or as applicable to the Sales Tax Act? (6) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that even if the sale is compulsory, the said sale is still taxable, and further is not exempt from the tax? The Tribunal rejected the application. &nb....