1979 (3) TMI 189 - HC - VAT and Sales Tax

Summary

The High Court of Madhya Pradesh ruled that a firm is not liable to penalty under the M.P. General Sales Tax Act for transferring timber to a retiring partner as part of asset distribution. The transfer does not constitute a sale or transfer under the Act. The court's answer to the question was in the negative, against the department. The parties will bear their own costs.