1964 (12) TMI 26 - HC - VAT and Sales Tax

Summary

The High Court of Mysore ruled that an Industrial Co-operative Society is not liable to pay sales tax on hire-purchase transactions with its members. The court found the explanation in the Mysore Sales Tax Act, 1957, regarding hire-purchase transactions as void and inoperative, following a similar Supreme Court decision on a provision in the Madras General Sales Tax Act. The sales tax imposed on the turnover from hire-purchase transactions was quashed, and the petition was allowed with no costs. (Case citation: 1964 (12) TMI 26 - MYSORE HIGH COURT)