Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2003)87ITD537(Mum.)
..... distribution of electricity." (rest of the form omitted as considered not necessary).our attention was then drawn to section 2(29) of the gujarat sales-tax act, 1969, where "sale price" has been defined to include consideration received for the transfer of the right to use any goods for any purpose (whether or not ..... necessary to do so. in fact, there can be no common rules for finding out the genuineness of a particular slb transaction, which can be of universal application, nor can any such norms be exhaustive. however, very broadly and without limiting ourselves to what has been stated in our order, the following may ..... the tribunal was that the transaction had the colour of a mere paper transaction.p.k.f. finance ltd. v. jt. cit (ita no. 533/asr/1999--amritsar bench) this is not a case of a sale and lease back transaction at all. the facts are completely different and, therefore, the order is not applicable. ..... to permitted at this stage. attention is drawn to the judgment of the madras high court in perumal naicker v. t. ramaswami kone and anr. air 1969 mad 346.91. referring to p. 5 of the paper book containing the additional evidence filed by the department, mr. dastur pointed out that it refers ..... collection of taxes. cases on point are cit v. motor & general stores (p) ltd. (1967) 66 itr 692 (sc) and cit v. b.m. kharwar (1969) 72 itr 603 (sc). this approach has been reiterated recently by the gujarat high court in banyan & bery v. cit (1996) 222 itr 831 (guj).24. mcdowell .....Tag this Judgment!