Sale of unredeemed articles by auctioneers taxable under sales tax: Madras HC

Triplicane Permanent Fund Ltd Vs Tamil Nadu Sales Tax Appellate Tribunal (Madras High Court) Madras High Court held that sales tax leviable on consideration received on sale of unredeemed articles by the auctioneers under Tamil Nadu General Sales Tax Act, 1959. Further, penalty u/s. 12(3)(a) leviable for non-filing of returns. Facts- The petitioner is the Triplicane Permanent Fund. The issue that arose for assessment in respect of assessment years (AY) 1994-95, 1995­96, 1996-97, 1997-98 and 1998-99 is the taxability of the consideration received on sale of unredeemed articles by the auctionee...