1989 (11) TMI 303

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.... of the dealer, M/s. Parmali Wallace Ltd., Bhopal, the Board of Revenue has referred the following question to this Court for answer: "Whether, in the facts and circumstances of the case, the sale price of Rs. 21,699 could be included in the taxable turnover of the applicant when the goods were returned by the purchaser on the ground that they were not according to the specifications stipulated....

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....according to it the sale did not materialise, the goods having been rejected by the purchasers. The assessing authority did not accept the dealer's contention. The first appellate court also rejected this contention holding that since the goods sold to the purchasers were not returned for about a period of one year, the sales must be deemed to be complete. The second appellate court also rejected ....

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.... any other valuable consideration, and includes a transfer of goods on the hire-purchase or other system of payment by instalments but does not include a mortgage or hypothecation of or a charge or pledge on goods. Obviously, the definition is wide enough to include the nature of transaction involved in the present case. It is clear that the property in goods was entitled to be transferred as soon....

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....price of all goods returned to the purchasers, "(i) within a period of three months from the date of delivery of the goods, in the case of goods returned before the 14th day of May, 1966; (ii) within a period of six months from the date of delivery of the goods, in the case of goods returned on or after the 14th day of May, 1966: Provided that satisfactory evidence of such return of goods and o....