TaxTMI 
TaxTMI 
2020 (6) TMI 546
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....tra. The passbook constitutes an asset in the hands of the petitioner. The object of the DEPB Scheme is to neutralise the incidence of customs duty on the import content of the products that are exported and such neutralisation is granted by way of a duty credit against the export product. The DEPB Scheme sets out various parameters and conditions to be satisfied by the applicant/holder of the DEPB. Clause 4.3.4 dealing with transferabilty states as follows: '4.3.4 Transferability DEPB and/or items imported against it are freely transferrable. Transfer of DEPB shall however be for import at specified port, which shall be the port from where exports have been made. Imports from a port other than the port of export shall be allow....
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....vide reply dated 23.01.2012 reiterating that the application for the Passbook had been made at Bombay, the Passbook had been issued in Bombay, retained in Bombay and thereafter sold in Bombay to a purchaser based in Bombay, duly offered to tax, and rightly brought to tax at Maharashtra. Notwithstanding the objections raised, the impugned assessment has been completed bringing to tax the turnover in the State of Tamil Nadu, which is assailed in the present Writ Petition. 4. Heard Mr.N.Prasad, learned counsel for the petitioner and Mr.V.Haribabu, learned Additional Government Pleader for the respondent. 5. In order to determine the relevant State for fixing taxability, Section 2(33) of the Act read with Explanation (V) thereunder bec....
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....ivery or supply and a purchase of those goods by the person to whom such transfer, delivery or supply is made; ........... Explanation V.-(a) The sale or purchase of goods shall be deemed for the purposes of this Act, to have taken place in the State, wherever the contract of sale or purchase might have been made, if the goods are within the State - (i) in the case of specific or ascertained goods, at the time the contract of sale or purchase is made; and (ii) in the case of unascertained or future goods, at the time of their appropriation to the contract of sale or purchase by the seller or by the purchaser, whether the assent of the other party is prior or subsequent to such appropriation. (b) ....
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....ition of "sale" in the CST Act though relevant for the six instances where there is a deemed sale of goods, has no effect insofar as the subject transaction. Dehors the amendment, the sale would come within the concept of sale as available under the CST Act, in which instance we have to look at Section 3, having accepted the sale of a trademark or patent rights as a sale of goods. Though intangible and incorporeal, it has an existence and its situs also has to be pinned down to a particular place with reference to the owner. The situs of the principal place of business, from where the owner of such trademark exercises his right to sell specified goods, under the trademark or enforces his patent rights, which has been obtained by them as a s....
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....e when the contract of sale or purchase is entered into. There being no dispute on the position that the goods in question, the DEPB, and additionally, the seller as well as the buyer were all located in Bombay at the time when the transaction in question was finalised, the turnover from the transaction is liable to tax only in Maharashtra. 10. In Yasha Overseas V. Commissioner of Sales Tax and others ((2008) 17 VST 182) the Supreme Court (placitum 64 of the report) states that both DEPB and Replenishment licences (REP licence) are identical in nature and that both licences are exigible to sales tax. There is no dispute on this position. 11. The sole argument of the Revenue is that the petitioner is an exporter, exporting and importin....