TMI Blog1967 (7) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... o Items of turnover, a total of Rs. 41,761-3-3, were included in the chargeable turnover by the departmental authorities, but the Tribunal, on the assessee's appeal, took a different view and deleted both of them. The first item is Rs. 18,301-3-3. That represents the proceeds of sales effected by two banks with whom the assessee had pledged the goods. After crediting the proceeds towards the debts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the Revenue in this Court is that the documents of title themselves were not produced and it was not shown that they were transferred in the course of import by making an endorsement thereon to that effect. There may be cases where it may be legitimately stated that the production of documents of title will be essential to see whether the sales have been effected by transfer of documents in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in selling the goods pawned to them did not act as the agents of the assessee, it was right. As pledgees, the banks, acting under section 176 of the Contract Act, had a right to sell the goods. Their sale was but an exercise of the statutory power and not as agents. But the sales were nevertheless on behalf of the pledger, for, the pawn or pledge by itself did not make the pawnee or pledgee the ow ..... X X X X Extracts X X X X X X X X Extracts X X X X
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