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2021 (10) TMI 313 - HC - VAT and Sales TaxScope of "dealer" as per section 2(15) of the TNVAT Act, 2006 - NBFC - sale of repossessed vehicle on behalf of the defaulter by the Petitioner/Appellant - liability of taxes under VAT Act on the sale of the Hypothecated Motor Vehicles - Petitioner/Appellant is a dealer even though the contractual agreements specifically states the Petitioner/Appellant is not the owner of the Vehicle or not? - Resale of Plant and Machinery, Furniture and Fittings and Fixed Asset by the Petitioner/Appellant which is used for the purpose of own business would fall within the meaning of sale and subject to VAT or not - confirmation of additions made to sale of Plant Machinery, Fixture, Furniture, air conditioner and gold/gold jewellery as part of business activity of the assessee? HELD THAT:- It is not in dispute that the identical questions of law were considered by the Division Bench of this Court, in which one of us (TSSJ) was a party, in the case of M/S. CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LTD. VERSUS THE STATE OF TAMIL NADU (REPRESENTED BY THE ASSISTANT COMMISSIONER (CT) , CHENNAI [2019 (9) TMI 1597 - MADRAS HIGH COURT], wherein, the identical contentions were raised by the said petitioner, who was also a non-banking finance company - It was held in the case that The question, which was framed for consideration by the Division Bench was whether the bank, which holds the hypothecation of vehicles in their favour would be a 'dealer' within the definition under Section 2(15) of the TNVAT Act, merely because, the bank seized and repossessed the hypothecated vehicle and brings it to sale. The Tax Case Revisions are dismissed.
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