2006 (10) TMI 391

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....led by the same bank challenging the order of the Tribunal sustaining sales tax assessments on the sale of bullion to exporters for the years 1990-91 and 1991-92. The case of the petitioner is that the disputed quantity though delivered to exporters in the relevant year, was invoiced in the subsequent year after fixation of price. Therefore, according to the petitioner, sale of such quantity shoul....

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....f goods against substantial payment received, the Bank has in fact effected "sale" as defined under section 2(xxi) of the Kerala General Sales Tax Act, 1963. In fact, the purchasers are exporters and on taking delivery of the goods from the petitioners, the exporters were free to manufacture ornaments from the bullion purchased and could export/sell the same. Therefore, delivery of goods is pursua....