Supreme Court of India
M/s. Marikar Motors Ltd. v. Sales Tax Officer and Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Sales Tax: Kera/a Sales Tax Act-Dealer in motor vehicles and automobile parts-Sale on hire purchase basis-When. sales take effect-Held, it is only when the purchaser exercises the option to purchase after fully paying the agreed amount-Not simply at the end of the hire purchase period-Deprecia tion-Rate of 12% adapted-Open to the assessee to challenge the assess ment-If appeal not filed earlier, could be filed within. one month-To be taken as filed within time and disposed of accordingly-Question as to whether amount of rebate should have bee,n excluded from the tumove,.-..Left open. KL.
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