1998 (9) TMI 532 - SUPREME COURT

Deemed sale - Held that:- Appeal dismissed. Where there is a transfer of a right to use goods for consideration, the requirement of the provision of the said Act is satisfied and there is deemed to be a sale. In the instant case, the assessees owned shuttering. They transferred the shuttering for consideration to builders and building contractors for use in the construction of buildings. There can, therefore, be no doubt that the requirements of a deemed sale within the meaning of the abovementioned provision of the said Act are satisfied.