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TMI Blog2017 (12) TMI 1078X X X X Extracts X X X X X X X X Extracts X X X X ..... where it was held that DEPB has an intrinsic value that makes it a market commodity. Therefore, DEPB, like REP licence qualifies as goods within the meaning of the sales tax laws of Delhi, Kerala and Mumbai and its sale is exigible to tax. Appeal dismissed - decided against Revenue. - Appeal No. E/70504/2017-EX [ SM ] - Final Order No. A/71927/2017-SM[BR] - Dated:- 19-9-2017 - Mr. Anil Choudhary, Member ( Judicial ) Shri Pawan Kumar Singh (Supdt.) AR for Appellant Request for Adjournment for Respondent ORDER Per: Anil Choudhary The issue in this appeal is whether the transaction being, transfer of rights and privilege of export of sugar quota by the respondent assessee on receipt of consideration, whether the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er to import goods which he cannot do otherwise. 4. The said ruling was again followed by a full Bench of Hon'ble Supreme Court in Yasha Overseas v/s Commissioner of Sales Tax and others, alongwith other appeals, reported in (2008) 8 SCC 681, wherein the Hon'ble Supreme Court was considering the ruling in the case of Vikas Sales Corporation v/s CCT, by the earlier Bench holding that the transfer of an import licence called as REP licence granted under the 1992 1997 Exim policy, was exigible to sales tax, is impliedly overruled by the Constitution Bench decision in M/s Sunrise Associates versus Government of NCT of Delhi, that held that lottery tickets where actionable claims and where, therefore, excluded from the definition of g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion we fail to see how that ticket can be described as anything else but goods . If any more analogies are to be given one might compare DEPB with prepaid meal tickets or prepaid petrol coupons or accumulated flying miles. A meal ticket, a petrol coupon or flying miles credit has its own intrinsic value. If permitted free transferability those would soon become market commodities and would be sold and bought for their value as goods . In light of the discussions made above, the two questions framed at the beginning of the judgment are to be answered as follows: The Constitution Bench decision in Sunrise does not alter the position in regard to levy of tax on sale of REP licence and on that issue the three-Judge Bench decision in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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