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Auction of cars by bank - whether the disposal at an auction by the bank of cars that have been hypothecated with it and later repossessed on default of repayment of the loan, is a ‘sale’? - Prima facie case is against the assessee bank.

VAT and Sales Tax
8-5-2019

Auction of cars by bank - whether the disposal at an auction by the bank of cars that have been hypothecated with it and later repossessed on default of repayment of the loan, is a ‘sale’? - Prima facie case is against the assessee bank.

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