2006 (9) TMI 531

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..... ection 5A of the Kerala General Sales Tax Act, 1963 on the value of old gold ornaments brought by the partners of the firm towards capital. We have heard counsel for the petitioner and the Special Government Pleader. On the facts it is clear that the old ornaments brought by the partners towards capital were accounted as trading stock after crediting the value in the capital accounts of the par .....

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..... e counsel for the petitioner relied on a single Bench decision of the court in C. M. Hamsa Haji v. Sales Tax Officer [1967] 20 STC 470 whereunder this court held that transfer of goods by a partner to the firm towards his capital does not amount to sale in the course of trade or business by a dealer to attract tax under the KGST Act. We find that this court was only considering the case of liabi .....

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..... charge or pledge; Explanation (3D). Unless otherwise expressly provided in this Act, any transfer, delivery or supply of any goods referred to in this clause shall be deemed to be a sale of those goods by the person making the transfer, delivery, or supply and purchase of those goods by the person to whom such transfer, delivery or supply is made. Even after the introduction of the above pr .....

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