Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Bengal Finance (Sales Tax) Act 1941 — ss. 4(6) (iii) 3(6a) |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Dismissed |
Headnote | Bengal Finance (Sales Tax) Act, 1941 — ss. 4(6) (iii), 3(6a) -— Purchase tax ~ Levy of ~ Acceptance of Exim Scrips (Export Import Licence) by State Bank of India (SBD) and its branches, on payment of premium of 20% of the face value of the scrips in compliance with the direction of RBI — Levy of purchase tax — Held: SBI not liable to levy of purchase tax for replenishment licences or Exim scrips taken as a participant in the process of cancellation - Replenishment licences or Exim scrips are goods and when they are transferred or assigned by the holder/owner to a third person for consideration, they would attract sale tax - When SBI took the said instruments as an agent of the RBI, it did not hold or purchase any goods — It merely acted as per the directions of the RBI, as its agent and as @ participant in the process, to ensure that the replenishment licences or Exim scrips were no longer transferred ~— Intent and purpose was not to purchase goods in the form of replenishment licences or Exim scrips, but to nullify them. |
Judge | Honble Mr. Justice Dipak Misra |
Neutral Citation | 2016 INSC 1006 |
Petitioner | Commercial Tax Officer & Ors. |
Respondent | State Bank Of India & Anr. |
SCR | [2016] 5 S.C.R. 704 |
Judgement Date | 2016-11-08 |
Case Number | 1798 |
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