TaxTMI 
TaxTMI 
2016 (12) TMI 422
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.... appearing for the petitioner and Mr.S.Kanmani Annamalai, learned Additional Government Pleader appearing for the respondent and perused the materials placed on record including the counter affidavit. 2. The petitioner, who is a Public Limited Company incorporated under the Companies Act, is an assessee on the file of the respondent under the provisions of the Tamil Nadu Value Added Tax Act, 2006....
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....r pointed out that the aircraft was owned jointly by three persons for the purpose of their business in terms of the joint venture agreement executed between the parties on 10.09.2003. It was further stated that as per the memorandum of agreement dated 15.03.2011 between the parties for exit of the petitioner from the joint venture agreed to transfer, assign and relinquish of their share of 33.33%....
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.... agreement between the petitioner and the other entities for testing the correctness of the submission of the petitioner that it is only a release of relinquishment of share in the joint venture and not a sale. 4. The petitioner's case is that the transaction will not fall within the scope of the expression 'sale' as defined in Section 2(33) of the TNVAT Act. Thus, the factual avermen....