Liability of KVAT on the proceeds realized from the sale of hypothecated vehicles - The Bank is not the...

Liability of KVAT on the proceeds realized from the sale of hypothecated vehicles - The Bank is not the owner of the vehicle at the time of sale. But however, after re-possession, sells the vehicles and effects transfer and delivery of the goods (vehicle) to the purchaser after receiving consideration - Levy of tax on Bank confirmed. .....

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