Case Law Details
Sale price means the amount payable to a dealer as consideration for transfer of goods on hire purchase. The word sale occurring in Sec. 2(h) must have the meaning ascribed to it as in Section 2(g) when the word sale includes transfer of goods on hire purchase, then whatever is the amount which is paid/payable to the dealer on such a transfer would be included within the meaning of the expression sale price in Section 2(h). This being so, the sales tax authorities in the present cases were justified in including in the turnover of the appellants the hire charges as provided for in the hire purchase agreements.
SUPREME COURT OF INDIA
M/S. JAY BHARAT CREDIT AND INVESTMENT PVT. LTD.
Vs.
COMMISSIONER OF SALES-TAX & ANR.
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