2006 (10) TMI 390

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....1987-88, 1989-90, 1990-91 and 1992-93), and Misc. (Rect) Nos. 236 and 237 of 1994-95 (relating to assessment years 1984-85 and 1985-86): "(a) Whether the honourable Tribunal was correct in law in following the judgment of the honourable Supreme Court of India reported in State of Maharashtra v. Britannia Biscuits Company Limited [1995] 96 STC 642 and in creating distinction in judgment of the Supreme Court of India reported in Punjab Distilling Industries Ltd.v. Commissioner of Income-tax [1959] 35 ITR 519, wherein the transfer of bottles against security deposits has been held as transactions of sale? On this anology, whether the transaction of supply of cylinder and pressure regulators against security to the consumer are covered by de....

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....n to return the cylinder to the respondent because the agreement being relied by return of cylinder and pressure regulators and created no liability on the customer to return the same within a stipulated period?" Brief facts as have been noticed in the statement of case are that the respondent-assessee, a registered dealer under sales tax laws, is a Central Government undertaking and engaged in the resale of petroleum products and insecticides/finits including L.P.G. cylinders marketed by it through various distributors. The Assessing Authority, Jalandhar framed assessments of the respondent-corporation for the years 1984-85, 1985-86, 1986-87 on September 20, 1989, January 9, 1990 and March 27, 1991 respectively and created additional de....