TaxTMI 
TaxTMI 
2021 (3) TMI 182
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..../2008. 2. The Department has filed this revision by raising the following substantial questions of law : "1. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in dismissing the State appeal when there was sale? 2. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the transaction of machinery from the partnership firm to one of its partners for the adjustment of his capital money is not falling within the meaning of sale? 3. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the consideration in the form of transfer of machinery from the partnership firm to its partner ....
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....that though the appeal was listed on several dates and notices were issued to the assessee, they did not appear and co-operate in the disposal of the appeal and therefore proceeded to decide the appeal. The Appellate Tribunal framed the following questions for consideration: i) What is a sale? ii) When the business as a whole is disposed of, whether it is taxable or not? iii) When an asset is transferred at the time of dissolution of the concerned to one of its partners will it amount to a sale or not? 6. Thereafter, the Tribunal proceeded to refer to the following decisions: i) 20 STC 419 (Madras) in the case of T.P.Sokkala Ramsait Factory (P) Ltd. V. Deputy Commercial Tax Officer, Ambasamudram. ....
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.... of stock of stock to Tvl.A.Basha Sahib Sons, Salem. At the time of check of accounts, there was no mention of any dissolution agreement and the taking up of the goods worth Rs. 32,45,350/- by one partner. Even during the existence of the firm Tvl.S.S.Fabs, one of the partner Thiru B.Salam has obtained a R.C. under the TNGST Act with No.2722408 and under the CST Act with No.702408. He has been doing business in the same commodity in the same address. This RC is valid from 20.07.2000. Later on 13.04.2004, the dealer Thiru B.Salam, S/o.A.Basha Sahib had an application in Form-D and Form-A for the grant of RCs under the TNGST Act and CST Act respectively in these applications there was no mention about the commencement of the business. On rece....
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....eration and this should be akin to initial payment or deferred payment in order to make transfer or sale. 10. In the instant case, the Assessing Officer noted that at the time of check of accounts, there was no mention of any dissolution agreement and taking up the goods worth Rs. 32,45,350/- by one partner and even during the existence of the firm M/s.S.S.Fabs, one of the partner Thiru B.Salam has obtained a Registration Certificate under the TNGST Act and under the CST Act and the Assessing Officer also noted that he has been doing business in the same commodity in the same address and the Registration Certificate is valid from 20.07.2000. Further, the Assessing Officer has also recorded the statement of the assessee, which was during ....