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1986 (8) TMI 417 - SC - VAT and Sales TaxWhether appellants are governed by the definition of the word "dealer" in section 2(d) of the Punjab Act or by section 2(c) of the Haryana Act for assessment years 1964-65 to 1968-69? Held that:- Appeal allowed. As in the definition of "business" the profit-motive had not been omitted, and therefore without anything more it could not be said that the person carrying on those transactions was a dealer. The court rested the burden on the revenue to show that the transactions carried on by the appellant were carried on with a profit-motive. In the end, inasmuch as the appeals before it were concerned with the years 1965-66 to 1967-68 having regard to the lapse of time the court, while allowing the appeals and quashing the assessments, did not think it fit to remand the cases for fresh assessment proceedings.
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